Hyderabad: Andhra Pradesh Mahesh Co-op. Urban Bank, a Multi-State Scheduled Bank functioning with a network of 45 branches covering 4 States, Telangana, Andhra Pradesh, Rajasthan, and Maharashtra, has registered ever recorded profit (before tax)of Rs.58.70 crores for the FY 2019-20. The business mix of the bank has crossed Rs.4100 Crores (as on date Rs. 4400 crores) and proposed a dividend of 20% (subject to RBI approval) at its Annual General Body Meeting held on 07.12.2020 at its Own Head Office Building, Banjara Hills, Hyderabad.
Addressing the members at the Bank’s 44th AGM, Bank’s Chairman Sri Purshotamdas Mandhana said that the deposits of the bank increased to Rs.2597.15 from Rs.2431.28 crores. Credit portfolio increased to Rs.1542.91 crores from Rs. 1397.85 crores. He further said that owned funds of the bank increased to Rs 336.88 crores during the year from Rs. 303.57 crores and capital adequacy ratio stood at 18.09% as against the RBI stipulation of 9%. Sri Mandhana further said that the bank is declaring the dividend incessantly since its inception.
The annualized percentage of financials of the bank are as under:
CRAR stood at 18.09% this year from 17.66%, CD Ratio at 59.41% from 57.49%, Gross NPA at 3.38% FROM 3.54% and per employee business stood at 6.54% from 5.95%. The Bank is taking all precautionary measures to increase in every financial parameter. The Bank has performed well in all aspects inspite of adverse economic conditions.
Sri Mandhana further stated that presently the bank is offering Digital Banking Services like EMV Chip based RuPay Debit Card which are accepted at more than 2.48 lakh ATMs in the Country ; NEFT/RTGS/NG-RTGS on own SFMS platform; POS services; IMPS (Immediate Payment Service);Internet Banking facility Bharat Bill Payment System (BBPS)for payment of e-payments viz., telephone, electricity, water, municipal tax and also for flight tickets and hotel bookings; NACH system (National Automated Clearing System) for ECS Debit/Credit Mandate CTS (Cheque Truncation System) facility E-LOBBY – Cash Deposit, Cheque Deposit, Pass Book & Information Kiosks; Account Statement through registered e-mail.
Sri Mandhana said that the bank continues to be at the forefront of leveraging technology to improve the customer experience and introduced Bharat BillPay, BHIM MaheshPay, Mobile Banking, Internet Banking, UPI – Bhim MaheshPay and Customer Engagement services viz., Toll free services for account balance, loan enquiry, account statement, cheque book request, missed call service to get last 4 transactions in the account, statement of account by email, RTGS, NEFT from its own platform at all branches, RuPay ATM Card, etc.
The Bank also offering Techno-savvy services like Toll-Free Banking Service – to know account balance, loan enquiry, account statement & cheque book request; Personalized cheque book facility; Total branch network is CBS (Core Banking Solution) enabled platform; Missed Call Service to get instant SMS of last 3 transactions on the registered mobile; Customer Contact Centre; one STOP HUB to know the products & services offered by the bank and CKYC registration.
In addition to the offering of Digital Banking, Techno-savvy services, the bank is extending its services like Bancassurance – Life Insurance Solutions in tie-up with LIC of India & Max Life Insurance Company and for General Insurance in tie-up with New India Assurance Co. Ltd; Mutual Fund business in tie-up with Reliance Capital Asset Management Co. Ltd; Acceptance of NR(E) Deposits; Foreign Exchange Transactions under AD-II category; Tax Savings Deposits under Section 80C of Income-tax Act; Aadhar Enabled Payment System (AEPS) & Direct Benefit Transfer(DBT) facility to get LPG Gas subsidy.
With changing technology comes the need to adapt and evolve, Mahesh Bank has kept pace with the technology in improving way of working of the bank.
Mr. Mandhana further said that Mahesh Bank has the credit of having its own state of the art modern corporate office of 5 storied Building among the Co-operative Urban Bank fraternity of not only in our State but also in the entire South India.
The Bank has constructed 5 storied building with 2 level parking area – total of 82340 sft at a prime location at Road No.12, Banjara Hills, Hyderabad. Mahesh Bank is the first Co-op.Urban Bank in Telangana & AP to own such a multi-storied building. The construction of new office makes further strides in the bank’s current transformation with modern collaborative spaces that are supported by advanced technology. It also addresses issues such as customer convenience and employee well being.
Answering to the query raised by a shareholder on the cost incurred for the construction of the New Head Office building of the bank, Sri Mandhana replied that the cost per SFT was incurred at Rs.3699/- plus GST.
FUTURE PLAN
In view of COVID 19 pandemic situation, the Bank set a very conservative goal for the year 2020-21 and to achieve the business level of Rs.4425 crores with deposits of Rs.2800 crores & advances of Rs1625 crores besides more emphasis on CASA improvement, Gross NPAs below 3% and continuance of net NPAs ZERO percent, Sri Mandhana stated. He further said that the bank is likely introduce e-KYC facility, Aadhaar Pay, Prepaid Payment Instruments (PPIs) to compete in the prevailing financial market.
Sri Umesh Chand Asawa, MD & CEO welcomed members and the directors on the board. Sri Asawa answered several questions raised by the members. Shareholders in good number have participated in the meeting. Sri Rampal Attal, Vice-Chairman proposed vote of thanks.
About Mahesh Bank
Mahesh Bank popularly known as Andhra Pradesh Mahesh Bank, commenced its operations in August, 1978 at Hyderabad. It was conferred the Scheduled Status by RBI in 1996 and was registered under the Multi – State Co-operative Societies Act in the year 2001. As it takes strides towards an ambitious target of Rs.4,425 crores business in the current financial year, the bank has the distinction of continuing to maintain 0% net NPAs. Its regulatory compliances are impeccable with CRAR at 18.09% as against the 9% prescribed by RBI, accomplished targets set by regulators in Priority Sector and Weaker Section Advances and maintains complete compliance of KYC norms. Mahesh Bank has notched up several recognitions through its consistent performance. It is ‘A’ rated under Audit Classification since inception and has a consistent record of declaring Dividend over the years. Mahesh Bank was the first co-op bank to introduce CBS, ATM RuPay ATM & Debit Card. The bank received the Technology Bank of the year 2018 award, by Indian Banks Association, Mumbai. Amongst its visionary initiatives is the own Staff Training College to up-skill its employees, which enabled it to staff well-groomed and professional manpower.
