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Updated on: Saturday, September 25, 2021, 12:00 PM IST

Bombay Mercantile Bank registers Rs 3.78 crore profit in FY 20-21; launches app

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Notwithstanding the grave pandemic that had hit the country, Bombay Mercantile Bank registered a profit in the financial year 2020-2021 that was announced in its Annual Report while promising a total digital transformation in the coming year. Addressing the Annual General Meeting of the Bank held in Mumbai on Friday, Bank Chairman Zeeshan Mehdi told the shareholders his target of profit was much higher but of the pandemic that paralyzed the economy during the lockdown. Mehdi also gave the demo of the new mobile app that the Bank plans to launch in the coming month as part of its digital transformation. The chairman told the shareholder the year in review was unprecedented not only for India but for the world on account of Covid 19 pandemic. “The lockdown was sudden and stringent,” Mehdi said and added something that worked to contain the spread of the pandemic in India “The government rightly put lives before livelihoods and the result was evident in the contained numbers in India during the lockdown.”

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Published on: Saturday, September 25, 2021, 12:00 PM IST
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