Tirupati Bank registers net profit of Rs 7.85 crore in fiscal 2018-19
   Date :11-Sep-2019

 
Business Bureau :
 
The 24th Annual General Meeting (AGM) of shareholders of Tirupati Urban Co-operative Bank Ltd., Nagpur was held at Chhatrapati Sabhagruh, Chhatrapati Nagar, Nagpur recently. Share holders of the bank in large number attended the meeting. Chairman of the bank Sagar Meghe presided over the meeting. The annual report of the bank for the financial year 2018-19 was presented in the meeting and was approved by all. Tirupati Bank has total 16 branches with 13 of them located in Nagpur, other branches are at Chandrapur, Wardha & Airoli ( Navi Mumbai). Chairman of the bank informed that the bank has mixed business of Rs 1,025 crore and has registered net profit of Rs 7.85 crore before tax.
 
Net NPAs of the bank stood at zero per cent and CRAR is 16.14 per cent which is testimony of the financial soundness of the bank. The bank has declared 12 per cent dividend on shares for the year 2018-19.The bank is awarded as ‘Best Bank’ by Vidarbha Urban Co-op.Bank’s Association for ‘Overall Business Performance’ and ‘Minimum Gross NPA’ in the category of banks having more than Rs 500 crore deposits for the year 2017-18. The bank offers attractive rate of interest on deposits and loan schemes. Vehicle (car) loans and housing loans are given at 8.90 per cent PA without any processing fee.
 
On the occasion, founder of the bank Datta Meghe addressed the gathering. The directors of the bank Prem Grover, B J Bajaj, Rajay Surana, Ramesh Borkute and M L Pande, Annaji Raut, Jayant Lute, Sushila Jadhao, Sumati Wankhede were present on the dais. CEO of the bank Rajendra Raut conducted the proceedings. the bank’s RuPay debit card and the mobile app ‘Tirupati Bank InstaPay’ used for cash withdrawal, purchases and fund transfer to any account has gained huge response from the customers. Sagar Meghe has appealed the people to avail of the benefit of the schemes and services offered by the bank. Senior shareholders above the age of 80 as also meritorious wards of the shareholders were felicitated on this occasion. The bank also provides various other products like loan /overdraft against property, cash credit, loan against gold etc. at affordable interest rate.