MWCB annual meet held
Source: The Sangai Express
Imphal, September 23 2013:
The Manipur Women's Cooperative Bank Ltd Imphal held its 35th annual general body meeting yesterday at GM Hall with its chairperson, L Punyabati Devi in the chair.
The gathering of shareholder members have received the annual report of the Board of Directors of the bank along with audited balance sheet and others statement of accounts for the year 2012-13, informed a statement.
The members present expressed satisfaction and happiness to learn the sharp growth of the bank in recent years.
According to the statement, the bank achieved a remarkable 88% growth of its net profit from Rs 11.18 lakh in 2011-12 to Rs 20.97 lakh in 2012-13 with an overall growth of more than 31% in other fields like deposit, investment and own fund, etc.
Non-performing assets of the bank registered a record low of 7.47% at the end of financial year 2012-13 .
It further said that the bank is planning to open two more branches in very near future and has also adopted the annual performance planning of the bank for 2013-14 .
The meeting further approved proposals for amendment of certain clauses of the existing bye-laws of the bank.