Business Daily from THE HINDU group of publications
Wednesday, Jul 16, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jul 16, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Financial Performance Corporate Results - Co-operatives States - Andhra Pradesh Kanakamahalakshmi Bank profit Visakhapatnam, July 15 Kanakamahalakshmi Co-operative Bank has earned profit of Rs 1.47 crore during 2007-08, according to a press release. Mr P. Raghunadha Rao, Chairman of the bank, said the reserves had gone up from Rs 2.62 crore to Rs 3 crore and the deposits from Rs 33 crore to Rs 42 crore. The bank had declared a dividend of 15 per cent to shareholders. The advances had gone up from Rs 24.50 crore to Rs 30.27 crore during the year and two more branches were being planned in the city, he said. Besides, the proposal to merge the Palcole Urban Co-operative Bank in the West Godavari district was awaiting the approval of the RBI. "Six more branches will be opened in West Godavari, if the proposal gets the approval of the RBI, and we are hopeful of it," he said in the release. -Our Bureau More Stories on : Financial Performance | Co-operatives | Andhra Pradesh
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