MUB holds AGM in Margao
THE GOAN NETWORK
MARGAO
The annual general body meeting of Madgaum Urban Co-op Bank Ltd was held at Brindan hall, near Hari Mandir, Margao presided by Chairman, Ramakant S Angle along with other board members. The meeting was attended by more than 100 shareholders.
A press release issued by MUB officials informs that Angle briefed the members about the current position of the bank. “He said that the bank currently enjoys a comfortable liquidity position. He said that the top officials of the bank are constantly following up with RBI to ensure that the sanctions on loans are lifted at the earliest so that disbursements can get back on track,” adds the press release.
He brought to the notice of the members that the bank has reported a net profit of Rs 12.23 lakh for the year 2015-16 which is appreciable considering the RBI sanctions as well as the challenging Market scenario.
“The chairman also re-iterated that the Market value of the assets owned by the bank today stood at nearly Rs 20 crore. Considering the book value (purchase cost) of these assets which is Rs 1.80 cr the bank has a windfall gain of over Rs 18 crs
