Mumbai-based Model Cooperative Bank has reported a remarkable achievement of ‘Zero’ net non-performing assets (NPA) and a net profit of Rs 10.22 crore for the financial year 2023-24.
This information was shared during the bank’s 107th Annual General Meeting held last week, chaired by Albert W D’Souza, who expressed heartfelt gratitude to the shareholders for their unwavering support in the bank’s growth.
In the financial year 2023-24, the bank recorded total deposits of Rs 1,216 crore and advances of Rs 605 crore. The bank continues to be a financially sound and well-managed institution.
The bank also offers a comprehensive range of digital services, including mobile banking, internet statement viewing, UPI payment interface, card swipe machines, contactless Tap-ATM debit cards, RuPay ATM cum debit cards, and platinum RuPay debit cards.
The meeting concluded with a vote of thanks proposed by the bank director Thomas Lobo.
