The Surat People's Co-Operative Bank Ltd., enjoys the distinction of being the FIRST REGISTERED URBAN CO-OP. BANK OF INDIA. It was registered on 10th March, 1922 and started functioning from 22nd April,1922.
Progressively marching ahead, the Bank achieved the Status of SCHEDULED BANK on 1st October, 1988. The commendable strides of the Bank on the road to success during the span of more than 8 decades is clear from the following facts and figures:
Our parameters of progress as on 30-9-2004:
Share capital
Rs.15.70 crore
Reserves & Funds
Rs.193.84 crore
Deposits
Rs. 684.68 crore
Advances
Rs. 345.43 crore
Investments
Rs. 478.88 crore
Working Funds
Rs. 939.08 crore
Gross Profit (31-3-2004)
Rs. 29.56 crore
Net N P A
0%
Capital Adequacy Ratio
23.75%
Audit Classification
'A'
No. of Bank's Branches
20
No.of staff
462
No. of shareholders
57,854
No. of customers
2,56,901
The Bank was awarded Trophy for having ZERO NET NPA by 'Gujarat Rajya Sahakari Sangh', Ahmedabad, and 'Gujarat Urban Co-Op. Banks' Federation, Ahmedabad.
The Bank also emerged as leader amongst all Banks and Financial Institutions of the country in financing largest number of Borrowers under TUF scheme.
The Bank has continuously maintained its position in the category of "WELL MANAGED BANK" and "STRONG BANK" according to the various standard-norms laid down by Reserve Bank of India.
Being techno-savvy from early days of automation era, the Bank is in process of taking high jump by preparing a platform for Core Banking Solution. (Inter Branch Connectivity).
Bank has installed 6 ATM in just 10 months at Bhagatalav, Timaliyawad Bhatar, Sachin, Umra and Khatodara Branches.
Bank has donated more than Rs.6-crore to various social educational, medical and other institutions towards fulfillment of the social obligations and upliftment of Surat City., viz. Surat People's Bank English Medium College; Surat People's Bank Vanijya Vldya Bhavan; Surat People's Bank lCU Centre; Ashakta Ashram; Surat People's Bank Senate Hall.
As per RBI directives for Non-Performing Assets, total provision for Bad & Doubtful Debts is required to be made to the tune of Rs.21.31 crore against which Bank's 'Bad & Doubtful Debts Reserve Fund' is of Rs.98.00 crore. This speaks about Bank's soundness.
Our Bank was the first bank in South Gujarat to offer DEPOSITORY (NSDL) services. Presently, we command 65% market share apart from 36227 Demat Accounts.
Bank is highly committed to their shareholders. We regularly PAY 15% (Highest dividend permissible) DIVIDEND. Individual shareholders are covered upto Rs.1 lakh for Accident under Janta Personal Accident Policy. Moreover, Bank has established 'SURAT PEOPLE'S BANK MEDICAL RELIEF TRUST' with a corpus fund of Rs.1.50 crore to provide financial medical relief to meet with the huge medical expenditure.
Members of Board of Directors are dynamic and believe in Professional approach. Staff Members are dedicated and trustworthy.
