TCTBL starts dispersing pending dividends to shareholders

By Staff
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Google Oneindia News

Tirupati, Jan 2(UNI) Tirupati Cooperative Town Bank Limited (TCTBL), as a new year gift, had started dispersing the pending dividends to its 1.31 shareholders from today, according to TCTBL Managing Director V Subramanyam.

Talking to UNI, he said the decision was taken in a general body meeting on December 31 to disperse the four-year pending dividends from 2002-03 to 2005-06, for Rs 1.24 crore this month.

Mr Subramanyam said, the delay in issuing dividends was due to some unavoidable reasons. The bank will get Rs 41.35 lakh net profit in the financial year, besides holding Rs 86 crore deposits and Rs 16 crore loan now, he added.

He said the bank had increased the interest rate of customers for five-year term deposits, ranging from one per cent to one and half per cent from January one. The loan on house mortgage would be enhanced from Rs two lakh to three lakh in the next financial year, he added.

He said the Non-performing assets(NPA) was reduced to 1.5 per cent, compared to last year.

UNI

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