Rons Bantwal
Daijiworld Media Network—Mumbai (RD/CN)
 
Mumbai, Aug 16: The annual general body meeting of metro-based Model Co-operative Bank was held at St Xavier’s Engineering College auditorium, Mahim (West), on Sunday August 14.

 
Bank’s chairman Albert W D’Souza presided over the meeting. Speaking on the occasion, D’Souza said that the Bank has 16,905 share holders with Rs 15.78 crore in share capital and fixed deposits amounting to Rs 328.63 crore.  “The Bank has announced 11 percent dividend this year too,” he added. 

The Bank’s CEO and general manager Frank R Louis said that its head office is located in Fort here and the administrative office at Kalina, Santa Cruz (East), here. “It has 11 branches including Thane district and Navi Mumbai.  It has advanced loans to the tune of Rs 171.72 crore and earned gross income of Rs 32.07 crore net profit before tax Rs 3.89 crore and net profit after tax Rs 2.68 crore,” added Louis. 
 
The Bank’s founder president John D’Silva said that there opportunities are plentiful in the banking sector.  “The Bank that emerged as a regional bank had to cater to the customers that form the general masses.  The youth ought to take advantage of loan facility from the Bank to begin enterprises,” advised co-operative veteran John D’Silva.
 
Earlier, Fr Antony D’Souza, parish priest, Chakala, offered the Thanksgiving Mass along with St Xavier’s Engineering College assistant director Fr John Rose.
 
The Bank’s director Prem Aranha, Professor A P D’Souza, Vincent Mathias, Abraham Clement Lobo, Lazarus Menezes, Benedicta Rebello, Sanjay Shinde, and professional directors Paul Nazareth, and Philip Pinto were present on the dais.
 
Edward Rasquinha welcomed the gathering.  Frank Louis presented the annual report.  Deputy general manager William L D’Souza proposed the vote of thanks.