Visakhapatnam Cooperative Bank (VCB) has announced a 20 per cent dividend to its shareholders for 2012-13. The bank earned a net profit of Rs 10.2 crore during FY13 as compared with Rs 6.80 crore in the preceding year, said PV Narasimha Murthy, chief executive officer, VCB.
It would distribute Rs 6.61 crore to its 42,000-odd shareholders. Its share capital stands at Rs 75 crore.
As of March 2013, the bank's deposits stood at Rs 1,539 crore. Murthy said they were aiming to enhance it to Rs 2,000 crore by the end of the current fiscal from Rs 1,708 crore now. VCB had emerged as one of the top cooperative banks in the country with zero per cent NPA, and this year it expects a net profit of Rs15 crore, he added.
This year, so far, the bank has opened four branches taking the total to 32 across the state. It will open 7 more branches by the end of this fiscal, he said.
It would distribute Rs 6.61 crore to its 42,000-odd shareholders. Its share capital stands at Rs 75 crore.
As of March 2013, the bank's deposits stood at Rs 1,539 crore. Murthy said they were aiming to enhance it to Rs 2,000 crore by the end of the current fiscal from Rs 1,708 crore now. VCB had emerged as one of the top cooperative banks in the country with zero per cent NPA, and this year it expects a net profit of Rs15 crore, he added.
This year, so far, the bank has opened four branches taking the total to 32 across the state. It will open 7 more branches by the end of this fiscal, he said.