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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.
BALANCE SHEET AS AT 31st MARCH 2011. |
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| 3/31/2010 |
CAPITAL AND LIABILITIES |
Annex. |
(Audited) |
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| 76,649,600.00 |
SHARE CAPITAL |
1 |
97,899,600.00 |
| - |
RESERVE FUND OTHER FUNDS |
2 |
285,818,825.91 |
| - |
DEPOSIT |
3 |
5,005,926,763.11 |
| 1,370,779,.60 |
BORROWINGS Against FD |
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11,514.00 |
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BILLS FOR COLLECTION BEING BILLS |
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| 5,466,301.44 |
RECEIVABLE (as per contra) |
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14,989,846.92 |
| 7,986,694.00 |
INTEREST PAYABLE |
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9,556,474.00 |
| 86,016,986.30 |
Overdue Interest Reserve |
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57,995,911.66 |
| - |
BRANCH ADJUSTMENT |
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4,603.33 |
| - |
OTHER LIABILITES |
5 |
68,425,704.38 |
| 34,027,774.10 |
Profit & Loss Account |
6 |
29,692,925.43 |
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|
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| 211,518,135.44 |
- |
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5,911,,712,038.99 |
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PROPERTY & ASSETS |
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| 75,335,419381 |
CASH IN HAND |
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110,717,920.81 |
| 236,050,983.53 |
BALANCE WITH BANKS |
7 |
221,261,432.08 |
| 2,191,684,814.76 |
INVESTMENT |
8 |
2,711,926,661.81 |
| 2,085,007,060.71 |
ADVANCES |
9 |
2,551,490,795.03 |
| 122,211,653.30 |
INTEREST RECEIVABLES |
10 |
115,699,781.66 |
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BILL RECEIVABLES BEING |
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| 5,466,301.44 |
BILL FOR COLLECTION (as per contra) |
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14,989,846.92 |
| 31,756,919.48 |
FIXED ASSETS INCLUDING LEASED ASSETS (DEPRECIATED VALUE) |
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37,715,475.51 |
| 78,540,581.53 |
OTHER ASSETS |
11 |
102,230,893.17 |
| 17,724,000.00 |
Loss of Merged Banks |
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8,398,000.00 |
| - |
BRANCH ADJUSTMENT |
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| 37,281,250.00 |
Other Investments |
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37,281,250.00 |
| 4,881,058,984.56 |
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5,911,712,038.99 |
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CONTINGENT LIABILITY |
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| 2,920,870.00 |
Guarantee issued |
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5,567,130.00 |
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