Mumbai: Model Co-op Bank convenes 100th AGM; announces 10% dividend to shareholders


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By Rons Bantwal
Bellevison Media Network

Mumbai, 19 Sep 2017: Model Co-operative Bank held their 100th annual general body meeting at St Xavier’s Engineering College auditorium, Mahim (West), here, on Saturday, September 16 evening.

 

Addressing the shareholders and well wishers, the Bank chairman Albert W D’Souza said that they have 21 branches maintain steady business despite global challenges. The top banking services, professional services and customer loyalty is the strength of Model Bank that has bagged Top Bank Award, said Albert.

 

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The Bank has reached fixed deposit of Rs 878.53 crore in the past financial year, with Rs 472.82 crore loans and advances. It has earned a gross profit of Rs 12.52 crore with net profit of Rs 8.36 crore, said Albert.

 

Albert also announced dividend of 10 percent to the shareholders on the same occasion.

 

Earlier, Mumbai bishop Fr Barthol Baretto celebrated the Thanksgiving Mass.

 

The veteran of co-operative movement John D’Silva, Bank deputy chairman William Sequeira, Paul Nazareth, Sanjay Shinde, Benedicta Rebello, Marita D’Silva, Gerald Cardoza, Abraham Clement Lobo, Lawrence D’Souza, advocate Pius Vas, Ancy D’Souza, Bank general manager and CEO William L D’Souza, additional general manager Herald M serrao and others were present at the dais.

 

The Bank directors Vincent Mathias and Thomas D Lobo also briefed about the rapid strides of bank.

 

Edward Rasquinha compered the programme. William Sequeira proposed vote of thanks. 

 

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