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Kanakamahalakshmi co-op bank declares dividend

Our Bureau

VISAKHAPATNAM: Kanakamahalakshmi Co-operative Bank here has declared 15 per cent dividend for 2004-2005.

It was announced at the annual general meeting chaired by the Chairman, Mr P. Raghunadha Rao, here on Saturday. The bank earned net profit of Rs. 41.80 lakh during the year.

He said the bank had deposits of Rs. 26.75 crore and it had lent Rs 18.52 crore. The reserves amounted to Rs 2 crore.

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