The Annual General Body meeting of Model Co-operative Bank Limited was held on September 29 at Xavier Institute of Engineering, Mahim in Mumbai. Newly appointed Bishop of Mangalore Diocese, Dr Peter Paul Saldanha celebrated the Eucharist. Nearly 300 shareholders attended the Annual General Meeting held after the prayer service.
The Bishop said that the bank is doing great work for the community in Mumbai and appealed to continue the good work of serving the community. He wished the bank well and success in the years to come.
Chairman Albert W D’Souza who presided over the meeting extended a warm welcome to the shareholders and members.
The chairman in his speech said that the bank is performing well in spite of various constraints in the Indian economy. He informed that the bank has achieved all round progress and earned a net profit of 8.35 crore after tax.
“The bank has received approvals from Reserve Bank of India for opening four new branches in the state,” he said. He presented the audited statements of accounts including balance sheet and profit and loss account for the year ended March 31. The chairman, GM and CEO William D’Souza provided clarifications to the queries of the members.
The bishop presented a floral bouquet to managing director of Ryan Group of institutions, Grace Pinto. Founder chairman John D’Silva, Directors Vincent Mathias and Thomas Lobo addressed the gathering. Directors Paul Nazareth, Sanjay Shinde, Ancy D’Souza, Pius Vas, Gerald Cardoza, Marita D’Mello, Benedicta Rebello, George Castelino, Ronald H Mendonca, Additional General Manager Harold M Serrao and Deputy General Manager Zenon D’Cruz were present.
Aloysius Edward Rasquinha Manager, compered the programme. Vice chairman, William Sequeira proposed the vote of thanks. The meeting concluded with singing of National Anthem.