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Karnataka
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Bangalore
Apex bank registers Rs. 27-crore profit
Staff Reporter
BANGALORE:
Karnataka State Cooperative Apex Bank Ltd., has reached a milestone in its 91-year history by mobilising Rs. 2,265 crore in deposits.
The bank's working capital has increased to Rs. 3,775 crore and it has registered a net profit of Rs. 27.27 crore.
Exceeds target
The bank president, M.N. Rajendrakumar, was talking to presspersons about the bank's achievements after its 81st annual general body meeting here on Saturday.
Mr. Rajendrakumar said that the bank had exceeded the target set.
The bank was expecting a gross profit of Rs. 45 crore in 2006-07, he said.
The bank planned to increase its own funds from the existing Rs. 224.35 crore to Rs. 257 crore by the next fiscal year.
Deposit base
The bank also had plans to increase its deposit base to Rs. 2,420 crore, he said.
It planned to extend Rs. 1,450 crore in loans to the agricultural sector and Rs. 500 crore to other sectors, he added.
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