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Visakhapatnam, Sept. 22

The Visakhapatnam Urban Co-operative Bank is planning to set up 10 more branches in the next three years, according to Mr M. Anjaneyulu, Chairman. He made the announcement at the annual general meeting of the bank here on Sunday. He said the bank had earned Rs 2.48 crore net profit and had decided to pay 18 per cent to shareholders (dividend plus interest on share money). The deposits amounted to Rs 384.98 crore and the advances were at Rs 279.6 crore. He said the bank sto od second among the urban co-operative banks in the State. Bobbili Co-op Bank had been merged with the bank and the Ramachandrapuram Co-op Bank in East Godavari district would also be merged with it soon , he added.

— Our Bureau

More Stories on : Co-operatives | Andhra Pradesh

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