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Inspired by the lofty ideals for the betterment of the economic and material well being of the civic employees, this institution was registered under the Maharashtra Co-operative Societies Act in the year 1952. After having obtained a licence from Reserve Bank of India it undertook Banking Business and opened number of branches in Brihan Mumbai with an object to inculcate the habit of banking and thrift in the Municipal employees as also to meet their credit needs & make all types of banking facilities available to its member and depositors, who are not only Municipal Employees but are from general public as well since the Bank is open for all.
The highlights of Bank’s Financial position at end of the year
(Rs. In Crores)
|
Previous Year 31-03-2023 |
Current Year (Audited) 31-03-2024 |
|
|---|---|---|
| Share Capital | 143.51 | 139.31 |
| Reserve and Other Funds | 644.86 | 725.49 |
| Deposits | 3828.67 | 4257.62 |
| Investments | 1766.13 | 1254.44 |
| Loans & Advances | 2869.79 | 3071.75 |
| Working Capital | 5247.23 | 5805.05 |
| Net Profit Before payment of Income Tax | 129.17 | 107.12 |
| Net Profit After payment of Income Tax | 92.47 | 76.45 |
| Membership | 73888 | 71102 |
| Branches | 21 | 21 |
| Dividend Declared | 20% | - |
| Gross N.P.A. | 3.93% | 4.23% |
| Net N.P.A. | NIL | NIL |
| Capital Adequacy Ratio | 14.93 | 15.55 |
| Audit Classification | A | A |
Bank provides RTGS/NEFT facility to customers without any charges.
Annual Report 2023-24
