The AP Mahesh Co-operative Urban Bank Limited has declared 18 per cent dividend for the year 2012-13, a press release stated. The bank registered 4.82 per cent growth in business with Rs.2005.84 crore revenue and Rs.28.14 crore profit this year, according to Mr. Ramesh Kumar Bung, Chairman and Managing Director of the bank.
The deposits of the bank stood at Rs.1,274.66 crore and advances to the tune of Rs.731.18 crore. Remarkably, the bank continued to maintain zero percent NPA for the past several years. The bank is estimated to clock Rs.2,300 crore revenue and Rs.28 crore profit for the current fiscal.