The Cosmos Co-Operative Bank Ltd., in its 118th Annual General Meeting (AGM) held at Hotel Central Park, Apte Road, Pune, announced a net profit of ₹384 Crore for the Financial Year 2023-2024. Chairman CA Milind Kale declared that the bank's financial position remains robust, with reserves and other funds standing at ₹2,149 Crore and a Capital to Risk Assets Ratio (CRAR) of 15.43%.
During the AGM, Chairman Kale addressed the members and highlighted the bank's significant milestones achieved during the fiscal year ending March 31, 2024. He reported that the bank's total business setup has reached ₹35,400 Crore, comprising deposits amounting to ₹20,216 Crore and advances totaling ₹15,192 Crore.
The bank also declared a dividend of 15 per cent for its members for the Financial Year 2023-24, reflecting its commitment to shareholder returns and financial prudence.
The AGM witnessed a substantial turnout of members, with Vice Chairman CA Yashwant Kasar, all Directors of the Board, and Managing Director Apekshita Thipsay present to discuss and approve the financial results and future strategies of the bank.
Cosmos Co-Operative Bank Ltd. continues to strengthen its position in the co-operative banking sector, focusing on growth, stability, and serving the financial needs of its members and customers.
