Andhra Pradesh based Aryapuram Cooperative Urban Bank recently turned hundred years old and on the day the bank Chairman Challa Shankar Rao made public a logo for the centenary celebrations in the presence of the bank’s board members.
Aryapuram Cooperative Urban Bank was established in Rajamahendravaram, Andhra Pradesh in 1918 and started its business operations from 1919 by its founder late Saripalle Visweswara Prasad.
Meanwhile, the bank is planning to get its newly constructed building inaugurated by the state chief minister Chandrababu Naidu mid this year.
Talking to this correspondent on the phone Sudhakara Rao, Secretary/CEO of the Bank said “We have entered into the centenary year and will organize functions and events throughout the year to mark our journey”.
Aryapuram Cooperative Urban Bank has a business turnover of Rs 948.33 crore with a deposit base of Rs 591.26 crore and advances of Rs 357.07 crore. The Bank has a network of 16 branches across the state.
The Bank with 90 thousand shareholders disburses 15 percent dividend to them. The bank has earned a net profit of Rs 4.47 crore.