Mahesh Bank declares 20% dividend

Hyderabad: Andhra Pradesh Mahesh Co-op. Urban Bank, declared a dividend of 20 per cent for FY 2018-19 at its Annual General Body Meeting held on Saturday in Hyderabad.

The Scheduled Bank with a network of 45 branches has registered highest ever profit (before tax) of Rs 54.43 crores by registering 27.11 per cent growth over previous year. The business mix of the bank has crossed Rs 3829 crores.

Bank's Chairman Purushotamdas Mandhana said that the deposits of the bank showed an increase of 5.41 per cent over last year and stood at Rs 2431.28 from Rs 2306.58 crores.

Credit portfolio increased to Rs 1397.85 crores from Rs 1254.90 crores registering an increase of 11.39 per cent and the profit of the bank (before tax) stood at Rs. 54.43 crores from Rs 42.82 crores last year.