By H R Alva

Prize-winning Model Bank has unopposed directors and Albert W D’Souza as chairman for a record hat-trick term

Mumbai, Apr 12: The Model Co-operative Bank Ltd, one of the leading co-operative banks managed by the Mangalurean Konkani Catholic community in Mumbai has its roots in the Mangalorean Catholic Co-operative Credit Society Ltd which was registered on April 26, 1916. The Bank is in its centenary year. The grand finale of these celebrations will be held on April 26 in Mumbai with the presence of a galaxy of eminent personalities both from Mumbai and Mangaluru.

During this centenary year, the Bank was ranked 3rd 'Best Bank' among co-operative banks in the category of deposits between Rs 500 crores and Rs 1,500 crores from the Brihan Mumbai Nagari Sahakari Banks Association Ltd Mumbai on August 12, 2015. Now yet again the Bank has been awarded in recognition of its excellent achievements – Financially Sound and Well Managed Bank (FSWM).

Albert W D’Souza (chairman) and William J Sequeira (vice-chairman)

And this time Model Bank bags first prize:

The Maharashtra State Co-operative Bank’s Association, an Association of co-operative Banks in the State of Maharashtra has recognized the Model Bank as the Best Bank among co-operative banks in Mumbai region by awarding the first prize in the category of deposits of Rs 500 crores and above.

The 20th Award function of the Association was held on February 18, 2016 at Swatantryaveer Savarkar Smarak Sabhagriha, Dadar West, and was attended by senior management from co-operative banks. N S Vishwanathan, executive director of Reserve Bank of India presented the award to the chairman of Model Bank Albert W D'Souza, general manger and CEO, William L D’Souza and additional general mManager Harold M Serrao.

Both these awards have showed that the Model Bank has progressed as a reputable and sound community co-operative bank.

Hat-trick unanimous selection by shareholders:

Shareholders are in real sense the owners of any establishment. The Model Bank has about 21,000 shareholders and they have always recognized the zealous efforts of the board of directors right from the beginning under the leadership of John D'Silva, the founder chairman till 2003 and Albert W D’Souza, the chairman of the Bank since 12 years. Now during the election process which was in force in February - March 2016 for the election of board of directors for the period 2016 to 2021 there were only required number of nominations thereby paving the way for the unanimous election of the directors. This shows the faith and confidence reposed on Albert W D’Souza, eminent businessman, educationist and a community leader and his fellow directors who are successful leaders in their respective fields.

Albert W D'Souza joined hands with John D’Silva, the veteran co-operative banking giant and others to form a co-operative bank of Mangalurean Konkani Catholic Community of Mumbai during the 1990s. When John D’Silva was the founder chairman, Albert was the founder vice-chairman and in 2004 Albert took over the mantle of chairman from the hands of John D’Silva for the first time. During that time the deposits of the Bank were within Rs 100 crores. By recognizing his efforts and far-sightedness the shareholders unanimously elected the board of directors in the election of 2005 December for the first time. Shareholders yet again reposed faith on Albert and fellow directors and chose them unanimously in 2011 February for the second term.

During this tenure not only deposits and other parameters of the Bank improved, the number of branches which were 12 has risen already to 16 and going to touch the number 21 by May 2016. The deposits of the Bank have now crossed Rs 760 crores.

Considering the marvelous achievements shareholders reposed faith and hopes on Albert W D’Souza and his team during the present election process too and paved the way for their unanimous election, thereby saving huge amount of money and time which was otherwise required for the election process.

The new unanimously elected directors are as under:

New office-bearers:

The newly elected board of directors in their first meeting held on March 23 unanimously elected Albert W D’Souza as chairman and William J Sequeira as vice-chairman.

Expression of gratitude:

Chairman Albert W D’Souza has thanked all the shareholders, customers, officials and staff of the Bank for their continuous support since the inception of the Bank. He assured that all efforts would be taken to provide better services to the shareholders and customers of the Bank. He informed that the management will strive hard to elevate the Bank to the scheduled status and thus paving way for opening branches in Karnataka and other States and creating employment opportunities for the youth of the community.