Cosmos Bank posts Rs 137 crore net profit, declares 15% dividend

PUNE: The Cosmos Co-Operative Bank, a multi-state scheduled co-operative bank, has posted excellent financial results for the year ending March 31, 2012, with a net profit of Rs 137.03 crore. Bank has declared 15% dividend for shareholders.

The owned funds of the Bank stands at Rs 1331 crore and capital to risk assets ratio (CRAR) at 12.56%.

The 106th Annual General Meeting ( AGM) of the Bank was organised on Sunday, 22nd July 2012 in Pune. Shashikant Bugde, chairman, Cosmos Bank said, ""As on 31st March 2012, total Deposits of the Bank stand at Rs 12,060 crore and Advances at Rs 8,510 crore.

(In the previous financial year, total deposits of the Bank were Rs 9,137 crore and advances Rs 6,384 crore.) Cosmos Bank's deposits increased by 32% and advances increased by 33.30%.""

At present, authorised share capital of the Bank is Rs 300 crore. The AGM approved to increase authorised share capital to Rs 1,000 crore. It has also approved Bank's area of operation extended to Uttarakhand, Punjab, Delhi, Goa, Rajasthan and West Bengal.

Bank's total investment is Rs 3,989 crore, working capital Rs 13,824 crore, networth Rs 932 crore and C.D. Ratio 70.56%. The Bank is operational in 6 States. Last year, Cosmos Bank merged Amravati Peoples Co-op. Bank.