Mysuru: The over century-old The Mysore Co-operative Bank located at Gandhi Square in the heart of the city, has recorded a net profit of Rs. 1.40 crore.

Announcing this during the Bank’s 119th Annual General Body Meeting (AGM) at Kalingarao Sabhabhavan in Dasara Exhibition Grounds here recently, Bank President J. Yogesh said that the Bank currently has 33,333 members. Pointing out that the Bank has extended a loan of Rs. 10,968 lakh, he said that the Bank has declared a 10 percent dividend.

“The quantum of NPA (Non Performing Assets), which was 32 percent earlier, has now been brought down to just 5.46 percent in 40 days during my tenure as the Bank President. The Bank is currently in a good situation and this has been possible because of support from the Bank Directors. The Bank was able to record a profit of Rs. 1.40 crore because of loan recovery before March this year. The Bank members can also make transactions online through UPI after opening an SB account,” Yogesh noted.

The meeting primarily discussed issues concerning Dividend hike, UPI transactions, Death  Relief Fund etc.

More than 200 meritorious and achiever children of Bank members were felicitated and 119 seniormost members of the Bank were honoured on the occasion.

Bank Secretary K. Harshith Gowda, Directors SBM Manju, N. Yoganand, G. Niranjan, H. Harish Kumar, Paduvarahalli M. Ramakrishna, R. Ravikumar, R. Somanna, K. Girish, C. Chandrashekar, P. Rajeshwari, M. Pramila, M.Y. Ramesh Gowda, C.S. Ramakrishnaiah and others were present.