Rons Bantwal
Daijiworld Media Network - Mumbai

Mumbai, Sep 2: “The customer trust and loyalty is essential for bank to succeed in business, while optimum use of technology to offer competitive service to the customer gives them edge over other banks. The employees dedication towards the serve the customers, honest efforts to help them facilitate the bank in rapid progress,” said Model Co-operative Bank chairman Albert W D’Souza.

Albert was delivering chairman’s address during the ninety-sixth annual general body meeting of Model Co-operative Bank Ltd that was founded by a handful of enterprising Mangalorean bankers, at St Xavier’s Engineering College, Mahim (West) here on Saturday August 31 evening.

Albert further said that the bank has achieved a fixed deposit to the tune of Rs 462.40 crore, loans and advances of Rs 256.77 crore, gross income of Rs 51.81 crore and net profit of Rs 8.10 crore, and net profit after tax was Rs 5.67 crore.  The bank has announced dividend of 12 percent this year, said Albert.

Janet Lawrence D’Souza, who was newly-appointed as deputy chairperson of Maharashtra state minority Commission was felicitated during the programme.

The bank founder chairman John D’Silva, directors Prem Aranha, Professor A P D’Souza, Abraham Clement Lobo, Vincent Mathias, Philip Pinto, Lazarus Menezes, Paul Nazareth, Philip Pinto, Sanjay Shinde, Benedicta Rebello, George Castelino were present at the dais.

Speaking on the occasion, D’Silva said that the customer trust and loyalty can take the bank to achieve greater objectives. The bank is also committed to help the community in improving socio-economic condition of community, said John.

The bank has 12 branches in the metro and western suburbs of Vashi and Mira Road, central suburb of Thane, besides head office in Fort, here and administrative office at Kalina, Santacruz (East), said deputy chairman William Sequeira.

St Xavier’s Engineering College director Fr Francis D’Mello celebrated the Thanksgiving Mass along with Fr Fabian Baretto on the occasion. Kenneth Sequeira and choir group sang melodious hymns.

The top bank officers, branch managers, shareholders and others were present on the occasion.

The bank CEO and chief general manager Francis J A Vaz presented the annual report. Condolences were offered to the repose of soul of Cardinal Bishop Simon Pimenta and departed members. The additional chief manager Jane Harindran compered the programme. The assistant general managers William L D’Souza proposed vote of thanks.