98TH ANNUAL GENERAL MEETING OF MODEL BANK WHICH IS GOING TO CELEBRATE CENTENARY CELEBRATION

CELEBRATING 100 YEARS OF SERVICE SHOWS THE ACHIEVEMENT OF EXCELLENCY: BISHOP GERALD ALMEDIA

Mumbai, August 31: The 98th annual general meeting of the present Model Co-operative Bank Limited which was founded as The Mangalorian Catholic Co-operative Credit Society by the leaders of the coastal Karnataka Christians was held on Saturday evening at the auditorium of St. Xavier’s Engg. College at Mahim (W) under the presidentship of Albert W D’Souza, the Executive President of Model Bank.

During last calendar year, the Bank had Security Deposit – Rs.610.82 Crores, Advance Deposit – Rs.341.61 Crores, Gross Income – Rs.67.30 Crores, Net Profit-ABT of about Rs.10.42 Crores and Net Profit – AVT of about Rs.6.62 Crores. Albert D’Souza, the Executive President said, “This bank belongs to the overall society rather than a bank of a particular community. We give more and prime importance to providing customer satisfaction services. The customers who get financial profit through our Bank are its beneficiaries. The co-operation of our customers encourages us to lead our bank”.

Model Bank has got ‘Best Bank’ award and third place which was given by Greater Mumbai Co-operative Banks Association Limited as Model Bank has got Rs.300 Crores more deposits than the year 2013-14. It is highly appreciable. The co-operation of its customers and well-wishers are the reasons for our achievement”, said Albert D’Souza and explained the annual activities of the bank and informed about the net profit and auditing information and announced a dividend of 12% to its shareholders.

In the beginning of the general meeting, Bishop of Jabbalpur Diocese – Rai. Rev. Gerald Almeida performed the prayer and said, “God is the strength of Christians. Hence, Christians lead absolute life with competency. Their honesty, transparency set as examples for all. Without thinking that we are minority community people in the nation, we should strengthen our harmonious life and provide services to the nation. 97 years of continuous service of the bank is highly significant. Facing all the challenges boldly during ten decades of service and leading with progress itself is a great achievement. Financial institutions should develop human relationship along with their business. Progress of the institution is possible through significant existence. Centenary celebration shows the achievement of excellency. Let this bank celebrate more and more centenary celebrations by developing confidence in public service”.

Rev. Fr. Lancy John Rose participated in the mass prayer. Kenneth Sequiera and team presented devotional songs.

The Founder President of the bank – John D’Silva, Vice Executive President – William Sequiera, Directors – Prof. A P D’Souza, Abraham Clement Lobo, Lawrence D’Souza, Thomas D Lobo, Vincent Mathois, Lazares Menezas, Paul Nazareth, Philip L S Pinto, Sanjay Shinde, adv. Pious Vaz, Mrs. Mariette D’Silva, Mrs. Benedicta Rebello, Ronold H Mendonza, George Castellino and William L D’Souza, the CEO and the General Manager of the bank were present on the dais.

On this occasion, Albert D’Souza, the Executive President honoured Bishop Rai Rev. Gerald Almeida and the Founder President of the bank – John D’Silva by offering them flower bouquets.

The senior managers – Zener D’Cruz and Hilari Mendonza, ex-directors of the bank, office bearers, heads of various branches, shareholders and well-wishers were present. Many people expressed their opinions on behalf of shareholders and provided information and wished the bank to lead more and more with public response.

The General Manager of the Bank – William D’Souza read out the instruction letters and last year’s report. In the beginning of the programme, silent prayer was offered to the departed director – Prem Aranha and other members. Edward Rascinha conducted the meeting session. Additional Chief Manager – Herold M Seravo proposed the vote of thanks.