News and pics: Rons Bantwal

Daijiworld Media Network – Mumbai (EP)

Mumbai, Sep 27: Maharastra Urban Cooperative Bank's Federation Limited has announced the annual Best Performing Bank awards for the year 2013-14. This time too, the prestigious financial institution Bharath Cooperative Bank has bagged the Best Performing Bank award for the
fifth time.

Bharath Bank has an annual working capital of Rs 7,398.81 crores and has earned a net profit of Rs 105.50 crores. The bank has been classified under A grade. The award is based on the study by the federation considering the performance of the bank and the faith of customers and the shareholders on the bank.

The share capital during the financial year is Rs 100.82 crores, Reserve Fund Rs 453.71 crores, Fixed Deposits Rs 4,980.18 crores, Saving Deposits Rs 861.96 crores, current fund Rs 480.48 crores, Recurring Deposits Rs 97.57 crores, Bharath daily deposits Rs 63.48 crores and the turnover was Rs 6,483.68 crores. Loans and advances were Rs 4,549.05 crores, gross income Rs 780.36 crores and net profit Rs 105.50 crores.

"The bank has provided Visa International Debit Card service to the customers and has served the customers on global level. The federation
has evaluated the services of Bharath bank before announcing the award," said the federation spokesperson.

Bharath Bank executive president Jaya C Suvarna has said that he is overjoyed with the bank receiving the award for the fifth time.

"Billavara Association Mumbai honorary president and bank's executive president Jaya C Suvarna's far sightedness and the professionalism of
former executive president V R Kotian, the performance of bank's higher officials, the hardwork of the workers and above all the interaction of the customers and shareholders is the strength of the award," said Managing Director and chief executive officer C R Mulki.