We are pleased to present to you the 47th Annual Report of our bank for the financial year 2018-19. We extend a warm welcome to all present here at the Annual General Meeting held on 23/09/2019.
The global economic environment in 2018 saw significant changes. However, while global growth continued steadily, some slowdown was observed in advanced economies. Developing and emerging economies showed mixed results.
The global financial market was affected in 2018 by the US-China trade war and uncertainties in the European Union due to Brexit. These uncertainties impacted several economies.
The Reserve Bank of India also announced several policy decisions to address the challenges faced by the Indian economy during this period. Despite these measures, growth in India’s economy slowed down compared to the previous year.
Meanwhile, our bank has worked to reduce debts, increase operational efficiency, and enhance customer service. Our focus has been on building trust and cooperation with customers and fulfilling their needs.
With your continued support, we are confident of achieving even better results in the coming years.
