Mahalaxmi Finance opens 11th branch in Simara

ShareSanar, March 15:

Mahalaxmi Finance limited has opened its 11th branch in Simara of Bara district on Falgun 29. The branch was formally inaugurated by the Chairman of BoD Mr Babulal Agrawal.

The finance company has said that it aims to provide banking services the agriculture and underprivileged people.
Mahalaxmi’s paid up capital remains at Rs 42 crore and the finance company has been providing dividend to the shareholders from the profit earned since 19 years.

It has mobilized Rs 4 arba 13 crore in deposits and its loan and advances stood at Rs 3 arba 41 crore. The bank reported an operating profit of Rs 14 crore in the last fiscal year and in the first half of current year it earned net profit of Rs 3 crore 30 lakh.