Model Bank 93rd AGM
93rd Annual General Body Meeting of the Model Co-operative Bank Ltd held.
The 93rd Annual General Body Meeting of the Model Co-operative Bank ltd was held at St Xavier Institute of Engineering Hall, Near Raheja Hospital, Mahim, Mumbai-400 016 on 1st August, 2010 at 10.30 AM.
The Chairman Shri Albert W. D’Souza welcomed the members and gave details of Banks working and informed that RBI has given a Licence to start a New Branch at Vasai, East. He said that the aggregate deposit of the bank is 30,001.13 lakhs with the increase of 13.51%. The advances have increased to Rs.14,117.17 lakhs and due to substantial increase in the advances, the CD ratio of 47.04% is expected to improve during the year he said. He further added that the Non Performing Assets to Net Advance Ratio has increased to 2.46%. Even though it is much below the prescribed level of 10.00%, efforts will be made to bring it down to zero in the coming years. He thanked all the members, customers and staff for their co-operation, support and encouragement and solicited their whole hearted support in the future.
Chairman, Shri Albert W. D'Souza and the General Manager, Shri Frank Lewis answered all the queries raised by the members.
Vice Chairman Prof. A. P. D'Souza gave a statistical analysis of the Banks functioning. Shri Vincent Mathias and ex-Chairman, Shri John D’Silva and Shri Henry Lobo, Chairman, CCCI too spoke during the occasion.
Directors Prem Aranha, Prakash Fernandes, Vincent Mathias, Lazarus Menezes, Paul Nazareth, Philip Pinto, William Sequeira, Sanjay Shinde, Ronald Mendonca, George Castling, Smt Benedcita Rebello and Smt Marita D’Mello were seated on the dais.
The AGM was preceded by the Holy Eucharist by Rev Fr Felix D’Souza, who gave a thought provoking homily and wished the Bank all the best.
