Tirupati Bank earns profit of Rs 8.36 cr

Source: The Hitavada      Date: 27 Sep 2017 09:50:50


 

Business Bureau,

The 22nd Annual General Meeting of the Tirupati Urban Co-operative Bank Limited was held at Vijayshree Parate Hall at Khamla on Sunday. Share holders of the bank attended the meeting in large number. Sagar Meghe, Chairman of the bank, presided over the meeting. On te occasion, the annual report of the bank for 2016-17 was placed before the meeting, says a press release issued here by the bank.
Addressing the gathering, Datta Meghe, Founder of the bank lauded the progress of the financial institute and also wished it a bright future.


Tirupati Urban Co-operative Bank is offering services to its clients through 16 branches and 12 ATMs. The bank has a mixed business of Rs 933 crore which includes deposits of Rs 595 crore and advances of Rs 338 crore. It has achieved a net profit of Rs 8.36 crore (before tax) in the last fiscal. Net NPAs of the bank are at 2.17 per cent and CRAR is 17 per cent which is testimony to its financial soundness.

The bank has recently launched a mobile banking services and its own mobile app in the name of ‘Tirupati Bqank Insta Pay’ which can be downloaded from Google Play Store. Sagar Meghe appealed to the customers to avail the facility for doing their fund transaction. The bank also offer attractive interest rates on deposits and loan schemes for housing, buying vehicles, etc.