Comments
Pune-based cooperative bank Cosmos Bank is targeting a pan-India presence and has applied for permission from the RBI to open 25 branches and as many off-site ATMs during the current fiscal.
The bank currently has 115 fully computerised branches in Maharashtra, Gujarat, Madhya Pradesh, Karnataka and Andhra Pradesh. It is planning to set up branches in both urban and semi-urban centres, including Delhi, Jaipur, Goa and Pantnagar.
Giving details of the bank's performance during FY 11, the Chairman, Mr Shashikant Bugde, said that Cosmos has posted a net profit of Rs 111 crore, while the business has grown by 31 per cent YoY to stand at Rs 15521 crore.
The bank's deposit portfolio increased by 27 per cent to stand at Rs 1,924 crore while advances were up by 38 per cent to touch Rs 1,762 crore. Its net worth stands at Rs 1,052 crore and the share capital has crossed Rs 100 crore.
During the previous fiscal, the bank created points of presence in 11 new centres and installed five off-site ATMs in Pune Region. It is targeting a business of Rs 25,000 crore during the current financial year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.