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Posted On: May 10, 2005    Viewed By 3577 People     
Abhyudaya Co-operative Bank Ltd.

Contact Information
Address Sahakar Sadan, Dattaram Lad Marg,, Kalachowky, Mumbai, Maharashtra, India, 400 033
Contact No. Phone No:91-022-2470 1134, 2471 3947,
Email ID:abhyu@vsnl.net
Contact Person Branch Manager
Designation Branch Manager
Company Information
Industry Banking / Financial Services
No Of Employees 3000 Above
Incorporation Date Jan 1, 1964
Turnover
Branches Mumbai, Navi Mumbai, Pune, Raigad & Thane District
Products Abhyudaya's Profile Abhyudaya Bank in pursuit of Growth Abhyudaya Co-op. Bank Ltd., one of the leading co-operative banks in India, in its outlook and approach, has the objective of progress and prosperity of all. From a humble beginning in January 1964 as a Co-operative Credit society with a share capital of a merely Rs.5,000/- held by 83 members, today Abhyudaya Co-op bank has become one of the largest urban co-operative banks with a "Scheduled Bank" status in Maharashtra. Currently, the capital base of the bank stands at Rs. 22.42 crores and Reserves and surpluses at Rs. 473.95 crores. The bank has 1,09,035 members and more than 11 lakh depositors. The Bank has seen a tremendous growth in deposits. The deposits of the bank are over Rs. 1647 crores as on 31.03.2005, which were Rs. 1623 crores as at the end of the financial year 2003-2004. The loans and advances stood at Rs. 784 crores as on 31.03.2005. The bank had posted a net income of Rs. 22.17 crores as on 31.03.2005. The growth rate of the bank compares well with that of others in the sector. The Bank has maintained a steady growth.The bank has been paying dividend @ 15% to its members which is maximum permissible as per the MCS Act. The Bank has launched different loan schemes tailor-made to suit the needs of various customers. The schemes aim at providing loans for purchase or construction of residential premises, repair/renovation of house property, purchase of car, seeking higher education and for purchase of household consumer durable. One of the loan schemes, viz. "Udyog Vikas Yojana" is specially designed for the benefit of small entrepreneurs and businessmen. The procedure for sanctioning of loans under the schemes has been simplified and relaxed with a view to attract new customers and facilitating speedy sanction of loans. The Bank has total 40 Branches including 1 Extension Counter at Bhandup and a Mobile Bank in Navi Mumbai. The area of operation of the Bank has been extended to the territorial jurisdiction of entire State of Maharashtra. Bank is committed to spread network of branches throughout the State and provide much needed banking services to the population, which has been deprived of the banking facilities. Innovative Banking is another area of operation that Abhyudaya is currently focusing on for a sustainable long term growth. The Bank has always endeavored for providing satisfactory customer service with the help of the latest technology. The Bank has provided fully computerised services to its valued clients. Bank is offering 11 Hours fully computerised services at 15 branches and 24 hours ATM service at 31 branches. With a view to meet the challenges of technologically advanced banking system and to upgrade its existing technology, the bank has decided to introduce "Total Bank Automation" to provide the facility of inter-branch connectivity for any time and any branch banking transactions.
Categories Commercial and Cooperative Banks., Finance, Home Loans , Housing Finance Advisors, Housing Finance Firms, Housing Finance In India , Housing loan & Financial assistance , Mortgage Companies finance, banks, credit card, Mortgaged property , Mortgages, Property Financiers, Property Financiers
Website: www.abhyudaya.com/
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