The Guntur Cooperative Urban Bank Limited (GCUB) has earned a profit of Rs. 3 crore on a total business of Rs. 325 crore in 2012-13 and targeted a turnover of Rs. 450 crore in the current financial year (2013-14).

Deposits during 2012-13 stood at Rs.191 crore and advances Rs.133 crore compared to Rs.141 crore and Rs.107 crore respectively in 2012-13.

Addressing media persons on Monday, GCUB Chairman K. Srinivasa Rao said the bank was ranked among the top ten cooperative banks in the State. It has zero per cent net non-performing assets largely due to giving loans on gold. The bank is gearing up to open ATMs at importance places and implementing core banking solution. Besides, 2,000 lockers are being offered to meet the growing demand from customers. Customers of various banks in the city are facing acute shortage of lockers.

GUCB is selling all types of policies, Life Insurance Corporation of India and the New India Assurance Company Limited being their corporate agent, and rendering the normal banking services plus MoneyGram, Real Time Gross Settlement, National Electronic Funds Transfer.

Bank Vice-Chairman Arimalla Venkata Ratnam, Directors Sivaramakrishna Prasad, J. Srinivasa Rao, A. Koteswara Rao, Y. Nageswara Rao, G. Narayana Murthy, G.Y.N. Babu, M.D. Babu and M. Basivi Reddy and CEO V. Seetha Ramulu were present.