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Model Co-operative Bank Ltd. opened its 22nd Branch at Vikhroli

Model Co-operative Bank Ltd. opened its 22nd Branch at Vikhroli (East) on 10th March 2019. The Branch was inaugurated by Shri G. V. Bilolikar, Jt. Commissioner of G.S.T., Mumbai and blessed by Rev. Fr. Rocky Banz, Parish Priest, St. Joseph Church, Vikhroli (West).

The Chairman of the Bank, Albert W. D’Souza in his welcome address stated that at present our Bank is having 21 Branches and this is the 22nd Branch which is inaugurated today.  Our 23rd Branch at Panvel will be inaugurated on 20.03.2019 and two more Branches will be inaugurated at Goregaon (W) and Sakinaka in the month of April 2019.  He stated that we will be having 25 Branches by the end of April.

He also stated that the Institution has completed 100 years of existence as an Institution on 26.04.2016 and the Bank has crossed Deposits of Rs.1000 crores as on 01.03.2019. The Chairman stated that with Deposits of Rs.1000 crores and advances of Rs.550 crores the Bank has achieved total business of about Rs.1550 crores and the Bank is on the threshold of achieving Scheduled Status.  The Chairman thanked the customers for their invaluable support and trust.

The Chairman also stated that the Bank is honoured to be recognized as the top 3 Financially Sound & Well Managed Co-operative Banks in Mumbai by ‘The Brihan Mumbai Nagari Sahakari Banks Association Ltd., Mumbai in the category of Deposits above Rs.300 crores to Rs.1500 crores for the year 2013-14 and 2014 - 15 and 1st Prize for Best Bank among  Co-operative Banks in Mumbai Region in the category of Deposits above Rs.500 crores awarded by the Maharashtra State Co-operative Banks Association Ltd., Mumbai. for the year 2014-15 and the Brihan Mumbai Nagari Sahakari Banks Association Ltd. for the year 2015-16.   The Brihan Mumbai Nagari Sahakari Banks Association Ltd., also awarded the Bank 2nd Prize in the category of Deposits above Rs.500 crores for the                       F.Y.2016-17.

The Chairman further stated that Model Co-op. Bank Ltd. is offering highest interest on Fixed Deposits and lowest interest on loans compared to other Banks.

Rev.Fr. Rocky Banz, Parish Priest, St. Joseph Church, Vikhroli (West) in his address said he was privileged to bless the Branch premises of the Bank & expressed his gratitude to the Bank for having opened a Branch in Vikhroli (East).  He invited the people to avail of the services of the Bank.  He stated that the Bank should cater to the needs of the people not for profit but for reaching out to the needs of the oppressed and the downtrodden by charging low interest rates.

The Chief Guest Shri G. V. Bilolikar in his address congratulated the Bank for achieving Rs.1000 crores deposit and stated that he was honored to be the Chief Guest of the function at this important stage of development of the Bank, wherein the Bank is opening series of Branches and will have 25 Branches by the end of April 2019.

The founder Chairman, John D’Silva and Guardian Director of the Branch, Lawrence D’Souza also  addressed the gathering.

The Bank offers convenient services to its customers with full CBS enabled network and operations and provides services of ATM, SMS Alerts, Personalised Cheque Books, Pan Card, Bharat Bill Payment System, Bancassurance, RTGS / NEFT, E-Tax Payment Facility, Cheque Truncation System, Direct Clearing, Direct Benefit Transfer Scheme (LPG Subsidy), Internet View Facility, Authorised Dealer Category – II – Full Fledged Money Changers (FFMC), NRE Accounts, E-Commerce etc. The Bank offers various Deposit Products. The Bank has been offering spectrum of financial services to different customer segments covering Housing Loans, Vehicle Loans, Educational Loans, Business Loans with the lowest interest rates.

A large number of customers, shareholders, well wishers and Bank Officials were present on the occasion.

Vice Chairman, William Sequeira and Directors Paul Nazareth, A. C. Lobo, Gerald Cardoza, Benedicta Rebello, Marita D’Mello, Pius Vas and Ancy D’Souza graced the occasion.

William L D’Souza, GM & CEO, Zenon D’Cruz, Deputy GM were also present. Edward Rasquinha, Manager compered the programme.
The Dignitaries were felicitated with floral tributes. Branch Manager Mervyn Lobo proposed the vote of thanks. The function concluded with the singing of the National Anthem.