Largest Urban Cooperative Bank in Karnataka
Starting off with a small capital of Rs.3 lakhs, the Amanath Bank has grown to be the largest Urban Cooperative Bank in the state, with a deposit of over Rs.237 crores, working capital of Rs.281 crores and net owned funds of Rs.27 crores. The Bank's profit for the year ending 315 March, 1999 was Rs.5.06 crores, which incidentally. was the highest by any Cooperative bank in Karnataka so far.
The Bank that began with just 3000 members, now boasts of nearly 35,000 members. The depositors and account holders, who exceed 1.6 lakhs in number, are serviced by the 10 branches in the State ..
Amanath Bank opened branches in such areas which are predominantly resided by middle/lower class people and the areas concentrated by minorities and backward classes to' whom commercial banks are not easily accessible ...
|
Position as on (Rs. in lakhs) |
||
|
Particulars: |
30.6.78 |
31.12.99 |
|
Paid-up Capital |
7.35 |
235 |
|
Reserves |
0.01 |
2022 |
|
Deposits |
43.18 |
23738 |
|
Advances |
23.84 |
13109 |
|
Working Capital |
52.01 |
28129 |
|
Profit |
0.41 |
NA |
|
Membership |
4691 |
34860 |
The bank has 384 employees on its roll, including 58 officers ... The bank has bagged the "Best Urban Cooperative Bank" award for the second successive year from the Karnataka State Cooperative Federation and Karnataka State Urban Banks Federation ...
The Reserves Bank of India conferred the 'Scheduled Status' on Amanath Bank effective from 29hh January, 2000 ... Amanath Bank is the first urban cooperative bank in Karnataka to be awarded this prestigious status ...
Future Pians and Prospects
Extension of area of operation ... to the entire State of Karnataka
Opening of branches at all district headquarters and minorities concentrated centres
Installation of ATMs for better customer service
Introduction of more value-added services such as Home Banking, Tele Banking Service, Networking Services and E-banking.
Expansion of credit for Medium Scale Industries
Foreign Exchange business
Opening of "Ladies Branches" in minorities concentrated residential areas
(New) schemes for financing priority sector/weaker section
Opening of currency chest and small coin depot
Launching of Mobile Banking
Deposits (includes) lucrative schemes suited to the clientele like Rozana Bachath, Recurring Deposits, Term Deposits, Cash Certificates, etc.
Loans (includes) for Business Ventures, Industrial units, purchase of vehicle, Housing, Professional offices and education
Many Firsts to its Credit
The first Urban Cooperative Bank in South India to be permitted by RBI to open Non-Resident External and Non-Resident Ordinary (NRE & NRO) Accounts
The first in Karnataka to computerize all its operations and introduce Wide Area Network (WAN)
The first in Karnataka to establish its own Staff Training College.
The first in Karnataka to install ATM facility
The first in Karnataka to introduce MICR cheques and install V-SAT.
The first in Karnataka to get Scheduled Status
