A leading Co-operative Bank of Surat is going to completed four decades of its services to the people of Surat City/District. And it is said that “Real life starts after forty”. On 29th July, 1972 a seed of good and efficient Co-operative Bank was shown, which has grown in to a huge banyan tree. Our Bank carries with it an enviable heritage of 40 years. Established on the principles of “Socialism” (Samajwad), this Bank has served to the Society at large. The selfless devotion of the pioneers of this Bank with their lifeblood efforts inspired their successors- directors to dedicate themselves to continue selfless services to the society. Keeping in mind the values of self responsibilities, democracy and equality, all the past as well as present directors servicing with their boundless enthusiasm and courage, with their untiring zeal and patience, with their practical wisdom and sagacity in their untiring efforts in the cause of banking and to the services of the people of Surat and for their economic growth. This Bank was having the able-efficient pioneers leaders and Past Chairmen like Late Shri Jayantilal B. Chokhawala (The founder Chairman of this Bank and a leading personality of Surat City) and also like late Shri Vasantlal M. Dalal (The founder Vice Chairman of this Bank and thereafter became the Chairman, a leading-efficient, prominent lawyer-practicing on the Civil as well as Labour side, a think tank of “Samajwad”, always thinking of poor people and labourers who rendered his services for about 27 years to the Bank) and many others, led this Bank from venture to venture and changed fortunes of many people with their smiling faces from success to success.
This Bank is not only helping small investors and weaker section of society but also playing a vital part in the growth of the industry and commerce. This Bank was established with the motto to serve the people of Surat, on the basis of seven cardinal principles of “Co-operation”. It is established with 417 shareholders members with paid up share capital of Rs.98,000=00 and on the completion of the first year it was having deposits of Rs.9,63,900=00 by 574 depositors and lending of Rs.5,94,700=00 to 113 members. Right from the 2nd year this Bank is giving the maximum ‘Dividends’ as provided under The Co-op. Act to its shareholder members regularly. Today at the end of 39th year, as on 31.03.2011 this Bank is having a total deposits of Rs.244.73 Crores and advances of Rs.149.49 Crores, with total working business of Rs.394.22 Crores. This Bank is having Net ‘Zero’ N.P.A. since last many years. It has also achieved a prizes from The Gujarat Urban Co-operative Banks Federation as the zero N.P.A. Bank. This Bank has achieved many targets and got many prizes and awards from Surat Jilla Sahkari Sangh and South Gujarat Co-op. Banks Association (SCOBA).
Today this Bank is rendering services to the people of Surat regarding all kinds of banking services. This Bank is having total 8 Branches having an efficient and most Co-operative Smiling Staff of 132 personnel.
This Bank is never involved in any scam. This Bank is not doing any Stock Market Business.
In this era of rising interest rate, we invite people and our valued customers as one of the attractive avenue for investment of their precious capital. Please find comfortable to deposit your valued funds in our Bank.
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