Mumbai: Model Bank awarded Top Bank Award by Maharashtra Urban Co-op Banks Federation

By Rons Bantwal
Bellevision Media Network

Mumbai, 11 Feb: Over a century old Model Co-op Bank was awarded Top Achievers Award by The Maharashtra Urban Co-operative Banks Federation, during 24 Annual Award Ceremony held at Ravindra Natya Mandir, P L Deshpande Maharashtra Kala Academy, Prabhadevi, Dadar (West), here on Sunday, February 10.

 

NCP veteran and Maharashtra Deputy CM/finance and projects minister Ajit Pawar presided the programme.

 

Maharashtra home minister Anil Deshmukh and co-operative minister Balasaheb Patil presided the programme.

 

The Federation chairman Mukund Kalamkar, deputy chairman Vasant Guikedkar, CEO Swati Pandey was present.

 

 

Model Bank chairman Albert W D’Souza received Captain Padmabhushan Vasant Dada Patil Top Bank Award from Deputy CM Ajit Pawar, for achieving annual turnover of Rs 1,000 crore.

 

The Model Bank deputy chairman William Sequeira, directors chartered accountant Paul Nazareth, Thomas D Lobo and Lawrence D’Souza, advocate Pius Vas, Gerald Cardoza, CEO and general manager William Louis D’Souza, deputy general manager Zenon D’Cruz were also present.

 

Speaking on the occasion, Albert D’Souza said. ‘The credit for Award goes to the Bank staff, branch managers, board of directors in making the bank customer-friendly.’   

 

The Bank has 25 branches across greater Mumbai with a share capital of Rs 37.88 crore, fixed deposit of Rs 804.23 crore, reserves fund of Rs 44.60 crore, loans and advances Rs 560.94 crore, savings deposit of Rs 185.31 crore, contingency funds of Rs 28.65 crore, working capital of Rs 1,114.88 crore. Its total annual turnover is Rs 1,583.13 crore that is 5.12 percent more than preceding year, with net profit of Rs 7.60 crore. The Bank also awarded ‘A’ grade by certifying authority, said CEO William Louis D’Souza.