Co-Operative City Bank celebrates Silver Jubilee

Guwahati, Nov 03 (UNI) The Co-Operative City Bank Ltd with a total deposit of Rs 59.52 crore, celebrating its silver jubilee tomorrow, earned a net profit of Rs 2.19 crore till March, 2006.

The Bank, having four branches in the city, have a total revenue and surplus of Rs 10.50 crore with no Non Performing Assest (NPA), Bank Chairman N C Barooah said.

Talking to newsmen here today, Mr Barooah informed that the Credit Deposit Ratio of the Bank is 57 per cent.

It gives 26 per cent of the total loan on housing sector.

The Bank gives loans to professionals and self-employed persons and advance to individuals for activities allied to agriculture.

Over and above these, the Bank gives advance to road and water transport operators for purchasing vehicles and to private traders dealing with essentials apart from advances to small business enterprises.

As a part of the Silver jubilee celebration the Bank had undertaken charitable work and spent around Rs 1.18 lakh towards entire renovation of Asom's Sishu Kalyan Sadan, a house of destitute children, at Jalukbari near here, Mr Barooah informed.

It is ''A'' class urban cooperative Bank having all the four branches fully computerized, he stated.

The authorized capital of the Bank is Rs 40 Lakh but the Board of Directors had recently decided to increase it to Rs 1 crore, he said.

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