Noble cooperative Bank in NOIDA of Uttar Pradesh has consistently been growing and managing the bottom-line claimed Vijay Sharma Chief Executive Officer & Secretary of the bank , talking to the indiancooperative.com correspondent.
While the bank has had an annual turn- over of Rs. 500 crores and a net profit of 1crore 16 lacs, it has set a target of 1 crore 50 lacs of profit for the year 2011. The bank boasts 5 branches , 15 thousand depositors and a democratic management holding elections every three years.
He regretted that the banks are rated unimportant in the cooperative movement as their promoters are denied stability and directors not chosen on merit.
The cooperative banks not only provide their account holders core banking service but also offer them daily deposit scheme. The banks have zero non-performing assets as there are no defaulters. It transacts business all the days in a week. Their main goal is not profit but to protect the interests of their account holders, he added.
The noble bank strikes the right balance of experience and youth in its workforce. The bank pans out as a special entity in that the employees of the bank compose the board of directors and are not paid a salary.
