The Hindu Business Line : Visakha Co-op Bank dividend

The Visakhapatnam Co-operative Bank has declared six per cent dividend for the year 2005-2006. The announcement was made at the annual general meeting of the bank here on Sunday by the Chairman, Mr M. Anjaneyulu. He said the dividend (6 per cent) and interest (6 per cent) would be paid to the shareholders. The bank could earn Rs 3.41 crore of net profit during the year. It has at present deposits of Rs 256.55 crore and the advances of Rs 188.48 crore. Referring to Rs 22 crore deposited in the Prudential Bank, which is under liquidation, and Rs 4 crore in Vasavai Bank (also in trouble), he said all efforts were being made to recover the amounts.

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