Mysore/Mysuru: The 62nd Annual General Body Meeting (AGM) of The Mysore Merchants Co-operative Bank was held in a virtual mode here yesterday.

Addressing the AGM, Bank President R. Anand declared a 25 percent dividend to all shareholders for the year 2020-21. Pointing out that the Bank has earned a gross profit of Rs.12.66 crore, he said that after deduction of Rs. 6.59 crore as Income Tax, the Bank stands to earn a net profit of Rs. 6.07 crore. With the Bank performing well beyond expectations, a 25 percent dividend has been announced, he added.  Bank Vice-President R.P. Krishnamurthy, Directors C.V. Somashekar, B.R. Nandish, A. Prabhuprasad, K. Premkumar, M.N. Mahesh, N. Kannan, N. Raghava, S. Rachappaji, N. Sudha, C.S. Gangambike, S. Anuradha and M.R. Vijayalakshmi, the Bank’s General Manager Sridhar B. Kulkarni, Branch Managers M.S. Manjunath and B.P. Shivakumar were present.