The Palamoor Co-operative Urban Bank was started in the year 1998. The Palamoor Co-operative Urban Bank is a licensed, non-scheduled and unistate Bank under Tier I category. The area of operation of the Bank is confined to the entire erstwhile Mahabubnagar, RangaReddy and Hyderabad Districts in Telangana State.
The Authorised Share Capital is Five Crore Rupees. Our bank has three professional directors with qualifications of CA & LLB. The Palamoor Co-operative Urban Bank has been earning profits since inception and paying good dividend to the shareholders. The Palamoor Co-operative Urban Bank is enabled with Core Banking Solutions and extending online services like NEFT/RTGS facilities to the customers for funds transfer. The Bank is also having separate IFS Code and extending CTS clearing facilities to the customers.
At present we have three branches at Mahabubnagar, Shadnagar & Jadcherla. The Bank has made a tie up agreement with IDBI Bank for providing H2H services to our Bank. Hence our Bank customers can now send amounts online for credit to their accounts (savings, Current and Loan
Accounts) directly through NEFT/RTGS facility.
Our Bank IFS Code is IBKL01681PB.
We are extremely happy to announce that our Bank has been running on sound and Profitable lines since its inception. The financial position of the Bank as on 31.03.2024 is as under.
| Share Capital | Rs. 346.22 Lakhs |
| No of Share Holders | 3369 |
| Deposits | Rs. 4361 Lakhs |
| Advances | Rs. 3312 Lakhs |
| Profit Before Tax | Rs. 298.86 Lakhs |
| Profit After Tax | Rs. 249.06 Lakhs |
| Working Capital | Rs. 5994 Lakhs |
| Business | Rs. 7673 Lakhs |
| CRAR | 42.37% |
| Gross NPA | 4.90% |
| Net NPA | NIL |