We greet our all valued shareholder. Your bank is possessing track record of reflow dividend payment since inception of the bank.
Depending upon the environmental changes in India, there are changes in the Banking Sectors also. The entry of the private banks is in the increasing trend. Due to stiff competition in the field, between the private banks and public sector banks, there is an important role in the interest rates both on deposits and advances. Further the Information Technology is playing vital role in the banking industry to motivate for the updated versions in the Banking Sector. Amidst such situations, Central Government has withdrawn the benefits available so far to the Co-operative Banks under Section 80P of the Income-tax Act. As such the banks in the Co-operative Sector are compelled to segregate some portions of their profit for the payment of tax. It has a blow to the Co-operative Banks, which vitally affecting the distribution of the profit into the Reserves. Further most of the service oriented activities are coming under the purview of Service Tax dragnet.
Share Capital and Dividends
As of March 31, 2025, the Bank's share capital has increased to Rs.125.81 crores with a total of 65,107 shareholders, compared to Rs. 119.31 crores and 64,046 shareholders as of March 31, 2024.
For the financial year 2024–25, the Bank recorded a profit before taxation of Rs. 92.45 crores. After making a provision of Rs. 15.25 crores for tax, the net profit stands at Rs. 77.20 crores.
Based on the profit earned, the Board of Directors has recommended a 12% dividend for the financial year ended March 31, 2025.
Statutory and Other Reserves
Marking the completion of 30 years of successful operations, the Bank has accumulated reserve funds of Rs. 294.87 crores as of March 31, 2025. Including the share capital of Rs. 125.81 crores, the total of share capital and reserves stands at Rs. 420.68 crores.
This strong and sound financial position reflects the continued trust and confidence placed in the Bank by its valued shareholders and customers.
Gifts to Shareholders' Wards and Insurance Cover
The Bank has decided to distribute educational gifts to the children of shareholders. Meritorious students will also be honored with a special memento and Certificate of Honour.
Additionally, the Bank provides accident insurance cover to both shareholders and account holders, ranging from Rs. 50,000 to Rs. 2,00,000. During the year, a total of Rs. 10.56 crores was claimed and distributed to 634 beneficiaries under this scheme.
Audit Classification and Depositor Insurance
The Bank’s operations were audited for the financial year 2024–25 by M/s. VCAS & Co., the Statutory Auditors approved by the Reserve Bank of India.
The Bank continues to pay regular insurance premiums to the Deposit Insurance and Credit Guarantee Corporation of India (DICGC). Accordingly, all deposits up to Rs. 5 lakhs are insured under the DICGC scheme.