The BHEL Employees Co-operative Bank here has earned a net profit of Rs.3.36 crore during 2009-2010 and paid a dividend of 14 per cent to its members, said P.Nainar, special officer of the bank, recently.

Addressing the 44 {+t} {+h} general body meeting of the bank, Mr Nainar said that the bank was one of the best co-operative banks and received the State government's award for its performance last year and the Reserve Bank had appreciated its performance. Core banking system (CBS) has been introduced in the bank and all facilities were available for its members on par with nationalised banks.

S.Krishnamurthy, secretary of the bank, said that the bank had 9,698 members as on March 31 this year with a total share capital of Rs.18.15 crore.

The bank had total deposit worth Rs.501 crore. The bank is giving a maximum of Rs.5 lakh as loan and the jewel loan amount has been increased to Rs.5 lakh. More than Rs.13 crore was given as loan and Rs.4.31 crore as vehicle loans to its members during 2009-10.

He said the bank had deposited Rs.90.20 crore in the bonds of the Centre and State government and Rs.202 crore in other banks. The bank has also set up an ATM and the withdrawal limit has been increased to Rs.40,000 per day.The bank is also functioning as an agent of the Life Insurance Corporation of India, he said.

The secretary said that A.V.Krishnan, Executive Director of BHEL, had inaugurated the bank's website in October last year to enable the members and others to know about the performance of the bank.

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