Pune People's Co-operative Bank has declared a dividend of 12% for its shareholders. This decision was made during the bank's 72nd Annual General Meeting (AGM), which was held at the Poona Merchants Chamber's Vyapar Bhavan in Market Yard. Adv Subhash Mohite, the chairman of the bank, made the announcement.
Mohite mentioned that the bank currently operates 21 branches, and as of the end of the financial year on March 31, 2023, its total business has surpassed ₹2319.05 crore. The bank has achieved a net profit of ₹13.77 crore. Notably, the bank has a net NPA (Non-Performing Asset) rate of 0% and a Capital to Risk-Weighted Assets Ratio (CRAR) of 13.77%.
Furthermore, Mohite shared that the bank is actively investing in modern technology, including computerising all branches and developing a state-of-the-art mobile app for customers.
He emphasised the bank's commitment to social welfare activities, such as organising health camps, providing assistance to pilgrims during the Wari procession, and supporting the police force during the Ganapati Visarjan. The bank also participates in activities like Women's Day, Doctor's Day, and CA Day across all its branches, he added.
Additionally, the bank has applied for permission from the Reserve Bank to open new branches in Aurangabad and Shirwal in the near future.
During the AGM, the bank recognised and honoured members, account holders, and their relatives who have excelled in various fields. The meeting was hosted by Chief Executive Officer Vijay Kumar Shelke, and Senior Director CA Janardhan Ranadive addressed the members' queries. Vaishali Chhajed, Vice President of the Bank, delivered the vote of thanks.
