News and pics: Rons Bantwal
Daijiworld Media Network – Mumbai (EP)
Mumbai, Aug 25: “The bank has indulged in service of a common man with a valuable far sightedness. Qualitative service has been our motto. We have stressed on all round development of the concerned”, said Albert W D' Souza, Managing Director of Model Cooperative Bank Limited.
The Karnataka coastal origin Catholic community leaders who had initially started The Mangalore Catholic Cooperative Credit Society Limited was later converted it into Model Bank Limited. The 97th annual meeting of the bank was held on Saturday evening, August 23 at the St Xavier's Engineering College hall in Mahim west. Bank's Managing Director Albert D' Souza presided over the programme and gave a Presidential speech giving details of the achievements of the bank.
Bank's educational loans, ATM Debit card, Smart Card account, PAN Card service and other services are being provided by the bank. The bank has received nearly 529.38 crores of deposits, has extended Rs 291.98 crores advances, has 60.50 crores gross income, Rs 8.45 crores net profit PBT and Rs 5.81 crores net profit PAT. The bank is distributing a dividend of 12%, said Albert D' Souza, the Managing Director of the bank.
Mumbai diocese assistant bishop Rt Rev John Rodrigues offered a mass of gratitude. The bank has faced all the challenges during the last ten decades and has progressed. It is a huge achievement.Financial institutions should develop human relationships along with business.The progress of financial institutions is possible only when they provide good service. May the bank progress and see hundreds of anniversaries, he said.
St Xavier College Dobitalao former principal Fr Lancy Pereira was the co celebrant of the mass. Keneth Sequeira and others participated in the Choir.
Founder president John D' Silva, Bank's vice president William Sequeira, Directors Prem Aranha, Professor A P D' Souza, Vincent Mathais, Abraham Clement Lobo, Lazarus Menezes, Paul Nazareth, Philip L S Pinto, Sanjay Shindhe, Benedicta Rebello, George Castelino, Bank's CEO and General Manager Francis J A Vaz were at the dais.
The Managing Director announced that Advocate Pius Vaz, Mariette D' Silva, Lawrence D' Souza Mulund and Thomas Lobo are elected new directors of the bank.
Managing Director Albert D' Souza presented flower bouquets to Bishop Dr John Rodrigues, Maharastra state minority commission Vice President Janet Lawrence D' Souza and Founder president John D' Silva.
Additional Chief Manager Herald M Serrao, former directors of the bank, higher officials, branch managers of branches, Shareholders and well wishers spoke and gave their suggestions and wished the bank progress.
Bank's CEO and General Manager Francis J A Vaz read the suggestion papers and previous year's report. The silent prayer was said for the members who passed away in the previous year. Edward Rasquinha compered the programme. Additional Cheif manager William L D' Souza proposed vote of thanks.