Hyderabad, Sep 21 (Reporter) Andhra Pradesh Mahesh Co-op. Urban Bank, a Multi-State Scheduled Bank functioning with a network of 45 branches covering 4 States, Telangana, Andhra Pradesh, Rajasthan and Maharashtra, has registered a net profit of Rs 49.56 crores for the FY 2023-24 as against Rs. 17.32 crores in the previous year. The bank declared 20 percent dividend for FY 2023-24 in the 48th Annual General Meeting of the Bank held here on Friday The bank has set a target of achieving the business of Rs. 3,3 00 crores by increasing the quality advances with major thrust on small ticket advances and increase in gold loan portfolio during 2024-25, the Bank said in a release here on Saturday. Bank’s owned funds increased to Rs.444.20 crore from Rs. 398.35 crore, Reserves and Surplus also sizeable increased to Rs. 412.98 crore from Rs. 366.41 crores. Book Value per share stood at Rs 284.53 from Rs. 249.42 and the earnings per Share is Rs.31.35 as against Rs. 10.67 last year. Bank could contain Gross NPA to 6.04 percent from 7.99 per cent and Net NPAs stood at "NIL." Speaking at the Annual General Meeting of the Bank held here , Ram Narayana Boga, Officer appointed by High Court of Telangana for running the administration and managing day-to-day affairs of the bank including taking policy decisions, expressed gratitude to shareholders and customers for reposing the trust on the bank despite all odds. Boga hoped that the bank will continue to declare dividends to the shareholders and ex-gratia to staff members in coming years with an expected growth in the business of the bank. V. Arvind, Managing Director and CEO stated that the bank is putting all out efforts to regain the past glory of the bank and requested the shareholders to continue to extend their co- operation and support for further growth of the bank...////...