Rons Bantwal
Mumbai, Oct 1: Model Co-operative Bank Ltd has been honoured with the second prize in the deposits category of Rs 1,001 crore to Rs 5,000 crore at the Best Bank Award competition organized by 'The Brihan Mumbai Nagari Sahakari Banks Association Ltd, Wadala, Mumbai.
The prize distribution was held on Wednesday, September 30, at Bunts Sangha Mumbai, Buntara Bhavan, Kurla, Mumbai, during the 48th annual general meeting of the Association.
The award was presented by Gulabrao Ganpatrao Jagtap, chairman of the Association, Dilip Jagannath Chavan, vice chairman and was received on behalf of the Bank by Vincent Mathias - founder director, Advocate Pius Vas - director, CA Paul Nazareth - professional director, Hilary Mendonca - director, Henry B Quadros - general manager & CEO and Zenon D'Cruz - additional general manager.
The recognition is a testament to the bank's consistent financial performance and commitment to serving its customers.
Model Co-operative Bank Ltd was included in the Second Schedule to the Reserve Bank of India Act, 1934, with effect from October 20, 2025, as notified in the Gazette and announced by Reserve Bank of India on December 2, 2025.
As on March 31, 2026, the bank recorded deposits of Rs 1,304.63 crore and advances of Rs 669.05 crore. The bank's net NPA to net advances ratio remained nil as on March 31, 2026, maintaining this position for the third consecutive year.
The Bank also opened its 26th branch on August 20, at Milagres House, Bandra (West). Model Co-operative Bank Ltd has been the recipient of several awards and recognitions from various associations and federations for its performance and achievements. The bank has also been recognised in the past for completing 100 years of dedicated service. The award is yet another milestone in the bank's journey of growth and excellence.
With these achievements, Model Co-operative Bank Ltd continues to stride forward, strengthening its commitment to providing resilient and reliable customer service. The bank has expressesed its heartfelt gratitude to its valued customers and shareholders for their continued trust, confidence and unwavering support.