Cooperative Bank targets Rs 250 cr turnover

By Staff
|
Google Oneindia News

Machilipatnam, June 26: The LIC Employees Co-operative Bank, Machilipatnam has targetted a turnover Rs 250 crore and secure deposits to the tune of Rs 75 crore during the current fiscal year 2007-08, according to Bank President Vemu Koteswara Rao today.

He told newspersons here that in the recent Bank directors meeting, it was decided to sanction Rs 4.5 crore to extend education loans to the children of the members of the Bank.

He said the Bank covered 11 districts in coastal Andhra Pradesh besides Chittoor district consisting of 3892 members.

Answering a question he said during the previous financial year 2006-07, the Bank's turnover was Rs 193 crore exceeding its target of Rs 190 crore. It also earned a net profit of Rs 55 lakhs.

UNI

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