The Visakhapatnam Cooperative Bank, the biggest cooperative bank in the entire South India has achieved a milestone by crossing the total business of Rs 6000 crores with 88185 members. The total business of the bank is Rs 6048 crore comprising Deposits at Rs 3680 crore and Advances at Rs 2368 crore.
It is a Multi-State Cooperative Bank offering services to a varied clientele through its 50 branches operating in both the States of Andhra Pradesh and Telangana and ranks 18 among all urban cooperative banks in the entire country, based on various parameters applicable to the banking industry.
The cooperative bank in the year 2016 had achieved the biggest milestone by completing 100 years of existence. Established in the year 1916, the bank faced many hardships, yet had continuously been on the path of growth till 1983.
The business of the bank started growing by leaps and bounds since then, when the bank came under the stewardship of veteran leader and ex-legislator Manam Anjaneyulu, who has, since then, served the bank as its Chairman for more than 30 years uninterruptedly.
The tradition of growth and profitability is being continued under the leadership of the present Chairman Chalasani Raghavendra Rao, being inspired by veteran Manam Anjaneyulu, who continues to be a guiding force.
The Bank Chairman Raghavendra Rao has expressed happiness and gratitude for the unstinted support and cooperation of Board Members, General Members, depositors, borrowers, well-wishers and all patrons.
The Chairman has placed on record the contributions of all the bank officials and staff members in creating an atmosphere of trust and faith among customers and general public with their dedication and service orientation towards the utmost satisfaction of customers.
In the days of crises being faced by the banking industry especially when there is bad press against the cooperative banks in the country spreading baseless and false propaganda, it is a matter of great satisfaction for one and all that the Visakhapatnam Cooperative Bank is blazing new trails in the field of development, adopting innovative strategies and the Chairman has termed it a New Beginning for the cooperative movement.
On this momentous occasion, the Chairman has assured that the bank will continue to serve the patrons in a much better way using technology to achieve more laurels in the days to come, while thanking each and every one for their contributions in making the bank achieve this great landmark.