Jan 20, 2020 351


Bassein Catholic Co-Bank Ltd., was established as Credit Co-operative Society - by Rev.Msgr.P.J.Monis on February 6, 1918 with the help of a social activist in Vasai, which has a large Christian population. On March 13, 1986, the Credit Society became an Urban Cooperative Bank and on December 1, 1990 it was awarded the prestigious Reserve Bank status by the Reserve Bank of India. Since then, the Bank has grown by leaps and bounds, recording the growth of deposits from 65.58 million rupees in 1990 to 2974.16 crores in 2013 and the growth of crosses from 39.58 crore to 2036.04 million during the same period. The Bank made a net profit of Rs 65.71 million for the year ended March 31, 2013 and also managed to reduce gross GNP to 2.53% with a net PNM of 0%. With the net equity of '491.11 crore the Bank has maintained the best CRAR of the industry of 20.59% as of 03.33.2013. With the current business mix of over 5,000 crore, the Bank is looking for higher business mix targets of over 10,000 crore in a couple of years.

The Bank has 86,000 active members. The spectacular performance of the bank, over the years, has been duly recognized by the Cooperative Banking Association / Federations granting the following awards. 1. Sahakar Bhushan Prize 2013-14 by the Government of Maharashtra. 2. "Pratibimba" 2013-14 Award for Sahakar Sugandha Magazine's Annual Report by Sahakar Bharti. 3. The Indian Banker magazine, which won first place in our Bank, based on average cost of funds, return of assets, CRAR and business by Empolees 4. Banking Frontiers Year 2011 Excellence Award in Recovery and NPA Operative Banks Category 5. "Best Performance Co-Bank.Bank Award 2008-09. All India's 2ndposition, 1st position of MaharashtraState and 4th Highest deposits holding Co-op.Bank in India by INDIAN ACHIEVERS FORUM, New Delhi 3rd, Best Urban Co-Bank for the year 2007-08 which has deposits above 500.00 crore by the Maharashtra Urban Banks Federation Ltd., Mumbai 7. The best Urban Bank Coopop for 2004-05, 2005 -06, 2006-07 and 2007-08 by the Association of Cooperative Banks of the State of Maharashtra Ltd., Mumbai The Bank has 38 branches with 27 ATMs on the site and 2 off-site ATMs .

All branches operate on CBS. The Bank is the first Cooperative in the Vasai region, which provides RTGS / NEFT services to its clients, as well as document postage, SMS alerts, e-Statement, Mobile Banking and multicity services. Checks to their customers. The Bank has linked with SIDBI for the credit bond Capital Subsidy (CLCSS) facility to future companies MSME wants to take advantage of the loan for the purchase of plants and machinery. The Bank has signed a memorandum of understanding with CRISIL and SMERA for the qualification of the Units that enjoy / is proposed to enjoy a credit limit of 25 lacs and above or the borrowers with the intention of taking advantage of the relaxation in the interest rate . Through the RuPay ATM card, the Bank has established access to more than 100,000 ATMs from other banks throughout India. The bank known for its best customer service enjoys the trust and confidence of both its shareholders and its clients. The Bank has a large participation in the establishment of Cardinal Gracious Hospital, a leading hospital in Vasai and Gonsalo Garcia College in Vasai and numerous other medical, educational and social institutions. The Bank is led by Mr. Michael Furtado the President, Mr. Christopher Rodrigues - Vice President and Ms. Brijdina Coutinho - General Manager of the Public and Mr. Agnello Pen - General Manager and therefore the Bank encourages and encourages the Cooperation in the true sense among all sectors of society.

CHAIRMAN:  Mr. Michael Poshan Furtado