Business EconomyPosted at: Jun 26 2025 1:39AM


AP: Kakinada Co-op town Bank makes Rs.15.64 Cr net profit

Kakinada, June 25 (UNI) The Kakinada co-operative town bank, ever since its inception forty five years ago has been making profits consistently and in the financial year ending March 31st it made a net profit of Rs.15.64 Crores, a top official said here today.
Giving the details of the Bank's progress to mediapersons, it Chairman Chitturi Ravindra said that the Bank stood second among the 46 urban cooperative banks in the state with its annual turnover of Rs.1860 Crores .`
By March 31, the bank had Rs.1,110.40 cr deposits and Rs.750.16 Cr lending and 54,243 members were having Rs.29.37 Cr share capital.
Bank has Rs.184.56 crore own funds and the governing body proposed to give a dividend of 12 percent, he said.
The Bank on the lines of last year has achieved ‘A’ grade and the Reserve Bank has recognized the bank as tier three as the Bank deposits exceeded Rs.1,000 crores ’ he added.
T
he chairman further said that the bank was now having 18 branches spread over to East Godavari, Dr Ambedkar Konaseema, Kakinada and Visakhapatnam districts and is planning to open two or three new branches preferably in Peddapuram, Pithapuram and Anakapalle.
The Bank at present has eight ATMs, one cash deposit machine besides mobile banking, Phonepe, Googlepe , SMS facilities.
A new block in the head office is being constructed to open a Lockers Plaza to meet the demand of lockers, he added. UNI XC KNR SSP
Tags: #AP: Kakinada Co-op town Bank makes Rs.15.64 Cr net profit
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