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SUTEX COOPERATIVE BANK LIMITED

Jan 20, 2020 351

HISTORY:

 The trip of Sutex Co-op Bank Ltd. began with its establishment on May 15, 1972.In the prime time of the opening of Sutex Co-op Bank Ltd. its name was The Surat Textile Traders Co-Op. Bank Ltd. The address of the banks' office is Surajram Bachkaniwala Bhavan, Nr.Navjivan Circle, Udhan Magdalla Rd., Surat. In 1972, Bank President Shri Surajram Bachkaniwala and Vice President Shri Ashabhai Shankarbhai Patel, with a thriving vision of providing a golden and profitable market for Surat's textile industry, registered the Bank on a cooperative basis. Sutex Co-op Bank Ltd. provided services to help shoppers in Surat Textile Market with banking facilities and to help them start and run their businesses.

The Sutex Co-op Bank Ltd. in the initial stage began with only 270 shareholders and Rs. 1.10 lacs social capital. As of March 31, 2016, the number of shareholders crossed 33426 and the capital stock of Rs. 3373.34 lacquers. As of March 31, 2016, the Bank has crossed a total of Rs. 1476 crores and total advances of Rs.882 crores.Sutex Co-op Bank Ltd. has a total of 18 branches and one administrative office.

The Bank began with only four employees and as it currently has a large circle of 265 employees. The Bank has been providing up-to-date training to all employees at different levels. All branches of Sutex Co-op Bank Ltd. are well organized and fully computerized and are one of the major banks in southern Gujarat. Sutex Co-op Bank Ltd. was the first bank to provide ATM facilities through cooperatives. Sector to its customers. In Surat City Bank provides complete basic banking services to its customers. It should be noted that the main banking solution was completed in only 3 months period which included 14 branches and a management office that showed a positive approach and proof of staff determination from Sutex Co-op Bank Ltd .. With the facilities of CBS Banks Valued customers can now take advantage of all types of banking services and facilities of any branch.

 

Chairman:ShriNimeshbhai S. Bachkaniwala