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by Ancy Paladka - Daijiworld Media Network Mumbai

Mumbai, Aug 13: Model Bank formerly founded by enthusiastic Mangaloreans as a credit society in the year 1916 was raised to the fame of co-operative bank by the banking visionary John DSilva in the year 1998. Now the bank is at its threshold of celebrating 10 years of existence as a bank and 90 years of its existence since the credit society.

The 90th Annual General Body of the bank was held at St. Xaviers Engineering College hall, Mahim yesterday (12-8-2007). The chairman of the bank Mr. Albert W. D'Souza welcomed the gathering. He also welcomed the newly co-opted members Ronald H. Mendonca and George Castelino with the bouquet. He also honoured the Founder of the Bank Mr. John DSilva and welcomed to the Dias.

The bank got licence during this term and it is our greatest achievement of this financial year he stressed. Bank has a very strong team having board of directors who are excelled in different fields he said. The greatest challenge ahead is to get the schedule status for the bank he pointed out.

He also said that the aggregate deposit of the bank is 17 crores with the increase of 7.58%. Also the CD ratio has increased from 36% to 48% and the expected ratio for the next year is 55% he said. The major strength of the bank is the control on Non Performing Assets. The bank always maintained Net Non Performing Ratio to Net Advances ration
below 3%. The current ratio is 1.31% and efforts will be made to bring it to zero he said.

He also honoured the ex-director Henry D'Sliva and Fr. Mario Vaz SDB for celebrating mass to the members before the meeting.

Vice Chairman Prof. A. P. D'Souza, Vincent Mathias too spoke during the occasion The General Manager Frank Lewis presented the annual report. Fort Bank Manager Edward Rasquina gave vote of thanks. Albert W. D'Souza answered all the queries raised by the members. The directors seated at the dais were Prof. A. P. DSouza, Vincent Mathias, Benedicta Rebello, Marita DMello, Prem Aranha, Prakash Fernandes, Lazurus Menezes, Paul Nazareth, Philip Pinto, William Sequiera, Sanjay Shinde, Ronald H. Mendonca, and George Castelino


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