Daijiworld News Network- Sullia (AF)

Sullia, May 6: The Co-operative Agricultural Bank has registered a net profit of Rs 55,01,415, said bank president N Jayaprakash Rai while addressing a press conference here on Friday May 5 at the bank auditorium.

The bank was founded in 1914 with just 24 members with a share capital of Rs 300. Now the share capital has increased to Rs 73 lakh, he informed.

The bank has a total deposit of Rs 10.24 crore and has 4,485 'A' category members. It has lent short-term, mid-term and long-term loans amounting to Rs 13.29 crore. The recovery percentage this year has been 91 per cent and a dividend of 12 per cent has been given to members.

The bank plans to convert its new building situated in 54 cents of land, into a well-equipped commercial complex with 15 stalls. Priority will be given to co-operative sector in the complex, he said.

Among those present at the press meet were former president and current director of the bank A S Vijaykumar, Serkaje Chennakeshav, senior manager S P Kumar, internal auditor Ratnakar Gowda and Balakrishna Naik of Ajjavar branch.