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Prime is a name of the bank where the bank is ready to serve its banking services to all customers under the slogan of “YOUR BANK FOR YOU”
The bank is governed by the Gujarat co-operative societies act, a legislation enacted by the state of Gujarat in India.
Prime co-operative bank ltd was promoted by an experienced and visionary entrepreneur named Mr. GOKUL BAKSHI, he is the Founder Chair person of the bank and continues to supervise its growth and development.
The Bank started off with exemplary combination of talented Board & potential staff team, stuffed with extreme professionalism and well designed contours of working method. The bank started as a paperless unit employing tele-banking, remote banking, off-time banking, Sunday banking, holiday banking and many more allied methodologies from the very beginning right from the D-day.
The bank emerged as an exemplary unit offering a wide range of specialized services in various sectors. Unlike majority of the banks where working timings are linked with employee-convenience. PRIME BANK decided to hold timings as per convenience of the cluster of clients whom it caters.
In the line with the same philosophy some of our branches in the residential area work all the seven days of the week, without a break. They work on Sundays w/o any alternative drop during the week. Likewise to focus special attention on the senior citizens the bank offers to credit monthly interest in their account with any bank before 5th day of every month.
Abridged Balance Sheet as on 31st March, 2009 (Rs. in lacs) |
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Liabilities |
2008 |
2009 |
Assets |
2008 |
2009 |
Share Capital |
404.72 |
531.86 |
Cash & Bank |
1995.91 |
2439.15 |
Reserve |
2542.27 |
3712.05 |
Investment |
13436.22 |
17383.13 |
Profit & Loss a/c |
304.86 |
387.90 |
Advances |
12685.06 |
16757.76 |
Deposits |
24383.25 |
31715.09 |
Fixed Assets |
255.15 |
295.07 |
Borrowing |
0.34 |
0.04 |
Other Assets |
1412.47 |
2400.99 |
Other Liab. & Prov. |
2149.37 |
2929.16 |
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| TOTAL |
29,784.81 |
39,276.10 |
TOTAL |
29,784.81 |
39,276.10 |
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Abridged Profit & Loss Account for the year ended (Rs. in lacs) |
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Income |
2008 |
2009 |
Expenses |
2008 |
2009 |
Interest & Comm. |
2327.22 |
2998.78 |
Interest paid |
1197.53 |
1745.18 |
Other Income |
152.54 |
195.55 |
Operating Exp. |
587.88 |
674.62 |
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|
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Depriciation |
49.90 |
59.90 |
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Provisions & I Tax |
276.8 |
244.00 |
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|
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Assets written off |
62.79 |
82.73 |
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Profit for the year |
304.86 |
387.90 |
| TOTAL |
2479.76 |
3194.33 |
TOTAL |
2479.76 |
3194.33 |
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