Port Blair, Nov 22: The Annual General Body of A & N State Coop. Bank was held on 21st November, 2020 at Megapode Resort. The programme was chaired by Mr. Bhagat Singh, Chairman and also attended by Board of Directors of the Bank, representatives of various Service Coop. societies, Senior officials and staff members of the Bank.
At the beginning, Mr. Bhagat Singh, Chairman of the Bank welcomed all the delegates for the Annual General Body Meeting. He appraised the forum that the Bank is in sound position and had earned a Net Profit of Rs. 77 lakhs for the year 2020. He appreciated the Managing Director & team for overall performance of the Bank. He further informed that Bank has earned 1st Prizes among all the State Cooperative Banks across the Country as per the decision of the NAFSCOB Meeting.
At the outset, Mr. K. Murgan, Managing Director welcomed all the Delegates and has emphasized that the Management of the bank has given due importance for the overall development in terms of IT, Banking, etc. He also urged that the bank resolves to achieve continuous and meaningful growth by making effective use of its human resources and leveraging its large network of branches and technology. The CD Ratio of the bank stood at 61.41%. He also urged that the bank had made such an historic profit with the guidance of the Management and hard work of the staffs. He has also informed that the bank has commenced RTGS, NEFT, IMPS, CDM for our valuable customer.
The Banks’ total business has crossed Rs. 1742.27 Crores with an advances portfolio of Rs. 662.84 Crore and Deposit portfolio of Rs. 1079.43 Crores. The Banks’ CRAR stands at 25.54%. He also informed that Bank has started Cooperative Care Trust to help needy people of A&N Island.
Mr. K Murugan, Managing Director of the Bank read and confirmed the proceedings of the last Annual General Body Meeting held on 01.03.2020, who also presented the Annual Report 2019-2020 and briefed the gathering regarding the financial parameters and strategic developments of the Bank with respect to the audited position as on 31st March, 2020.
An interactive session cum future road map was also held among the members and the Management of the Bank to decide on the various upcoming programmes of the bank.
The 54th General Body Meet ended with vote of thanks proposed by Mr. Anjan Sengupta, DGM (Banking).
