The Cosmos Co-Operative Bank Ltd. is making waves in the financial world with its impressive net profit of ₹384 Crore for the Financial Year 2023-2024. At the recent 118th Annual General Meeting (AGM) held in Pune, Chairman CA Milind Kale highlighted the bank’s robust financial health, including reserves and other funds totaling ₹2,149 Crore and a Capital to Risk Assets Ratio (CRAR) of 15.43%.
Here are some key highlights from the AGM:
1. Total business setup of ₹35,400 Crore
2. Deposits amounting to ₹20,216 Crore
3. Advances totaling ₹15,192 Crore
In a move to reward its members and maintain financial stability, the bank declared a 15% dividend for the Financial Year 2023-24. This decision underscores the bank’s dedication to shareholder returns.
The AGM saw a significant turnout of members, with Vice Chairman CA Yashwant Kasar, all Directors of the Board, and Managing Director Apekshita Thipsay present to discuss and approve the financial results and future strategies. Their active participation highlights the collaborative efforts of the bank’s leadership in driving its success.
With a focus on growth and stability, Cosmos Co-Operative Bank Ltd. is solidifying its position in the co-operative banking sector. Chairman Kale reaffirmed the bank’s commitment to serving the financial needs of its members and customers, promising continued efforts to enhance services and financial performance.
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