Mysore/Mysuru: The 63rd Annual General Body Meeting (AGM) of The Mysore Merchants Co-Operative Bank was held at Basant Convention Centre in city this morning, chaired by Bank President R. Anand.

At the meeting, the Bank announced 25% of Dividend to its Share holders.

Anand said that the Bank has earned a net profit of Rs. 614.92 lakh after paying Rs. 334.25 lakh Income Tax, has deposits of Rs. 367.26 crore and lending of Rs. 297.06 crore as on 31.3.2022.

Bank is offering 7% interest on deposit to senior citizens, which is higher compared to other Co-operative Banks and lending rate is reduced from Aug. 1, 2022, he said.

In all, 26 senior members were felicitated.  K. Premkumar welcomed. B.R. Nandish proposed a vote of thanks.

Vice-President R.P. Krishnamurthy, Directors C.V. Somashekar, B.R. Nandish, B. Kodandarama, A. Prabhuprasad, K. Premkumar, M.N. Mahesh, N. Kannan, N. Raghava, S. Rachappaji, N. Sudha, C.S. Gangambike, S. Anuradha and M.R. Vijayalakshmi, General Manager Sridhar B. Kulkarni, Branch Managers M.S. Manjunath and B.P. Shivakumar and other staff attended the meeting.