Mumbai based Model Co-operative Bank recently added the 25th branch to its network of branches already functioning across the maximum city. The new branch at Sakinaka was inaugurated by Dr. David T. Alvares, says a press release issued by the bank.
Delivering his welcome address on the occasion, Chairman of the Model Co-operative Bank, Albert W. D’Souza said ” at present our bank is having 24 branches and this is the 25th Silver Branch. In March and May this year we have opened several branches including Vikhroli, Panvel and Goregaon (W) branch. Chairman congratulated the Andheri (E) customers for their constant support and patronage rendered to the bank” he said.
The chairman said the Institution has completed 103 years of its existence on 26.04.2019 and the bank has crossed deposits of Rs.1000 crore. The Chairman stated that with deposits of Rs.1030 crore and advances of Rs.570 crore the Bank has achieved a total business of about Rs.1600 crore and the bank is on the threshold of achieving Scheduled Bank Status, he noted.
The bank has been recognized as one of the top cooperative banks across categories by various cooperative banks associations in the city.
The founder Chairman, John D’Silva also spoke on the occasion praising the opening of the branch as an achievement. Guardian Director, Vincent Mathias also expressed his pleasure at the inauguration of the 25th Branch at Sakinaka.
In his remarks, Rev.Fr. Samuel Ribeiro, Asst. Parish Priest, St. Anthony Church, Sakinaka said there is a desperate need to encourage our youngsters to take up entrepreneurship or studies helping them compete in all India administrative services exams.
The bank offers its customers CBS enabled network and operations and services of ATM, SMS Alerts, Personalized Cheque Books, Pan Card, Bharat Bill Payment System and several other services.
A large number of customers, shareholders, well-wishers and Bank Officials were present on the occasion. Branch Manager Ronald D’Souza proposed a vote of thanks on the occasion.