SVC Co-operative Bank which has a legacy of 117 years, organised Centenary Celebrations of its Santacruz West Branch, highlighting its remarkable journey of a century, dedicated to providing trusted financial services to society.
A grand ceremony was held at its Santacruz West Branch premises and the Saraswat Club in Santacruz to express gratitude to its valued customers. The ceremony was also attended by ex-Staff, current staff, former Directors and the existing Board of Directors and the Board of Management members.
Visitors were greeted with a special Thank You Photo opportunity, capturing moments of joy as the Branch staff shared smiles and snapshots with customers, many of whom being cherished associates of the branch for over three decades. The 97-year-old customer, Mr. Dinkar Burde, expressed his thoughts saying, “I have been associated with the branch for 75 years now. They have provided me with prompt services throughout.”
On this occasion, an audio-visual film showcasing various milestones of the branch was presented. The celebrations started with Lord Satyanarayan Puja followed by a Customer Rendezvous joined by the Board of Directors and Senior Management Executives.
The festivities concluded with a traditional lunch, symbolizing the completion of this celebratory occasion as the branch staff prepared to begin a new journey towards excellence. The branch also initiated various Wellness and Financial Education programs that will be held throughout the month at the branch premises, in addition to curated offers on banking products.
Durgesh Chandavarkar, Chairman, SVC Bank shared his thoughts, stating, “I am honoured to lead a legacy of financial innovation and an unwavering commitment. Santacruz West Branch’s 100-year journey highlights how a cooperative institution, deeply rooted in the welfare of its customers, not only withstands the test of time but also emerges as a dream fulfiller and a trusted partner for over a century”, he remarked.
He added “I am sure that the branch shall continue to chart a course towards continued growth, service and success with the same gratitude and determination that has helped it reach this summit of excellence”, he noted.
‘This is our second branch after the SV Marg branch that has lived up to the trust of thousands of shareholders and customers for over a century now,” said Ravinder Singh, Managing Director, SVC Bank.
Originating in a small flat in 1923 within Saraswat Colony, Santacruz, the Branch set out with a noble agenda to cultivate a culture of savings among citizens during the burgeoning cooperative movement. Founded by the visionary Late Rao Bahadur S.S. Talmaki, also known as the Maharshi of Cooperatives, SVC Bank garnered support from local citizens who apart from, sharing from their monthly earnings, also became proud shareholders of the Bank.
The Branch successfully navigated economic challenges during the Great Depression, the unemployment of 1939 and World War 2. In the 1960s, the Branch experienced a significant uptick as the Santacruz-Khar belt underwent a massive demographic change, earning the trust of customers along the way.
Embracing the digital era in the 2000s, SVC Bank implemented the indigenously developed Core Banking Software, Genius, enhancing services for Santacruz West Branch customers with speed and personalization. The introduction of ATM, Debit Card, and Net Banking services between 2001 and 2011 positioned the Bank to appeal to a younger audience.
Today, with a business exceeding Rs 400 crores, the Branch competes effectively in retail, corporate, and international banking, standing out as a leader in the industry, reads a release from the SVC.
It bears recalling that the SVC Bank which was set up in 1906, is a multi-state scheduled Bank with its presence across 11 states – Maharashtra, Karnataka, Goa, Gujrat, Rajasthan, Delhi, Haryana, Madhya Pradesh, Andhra Pradesh, Telangana, Tamil Nadu. With a total business of INR 33,480.61 crore and a Net Profit of INR 176.31 crore (FY 22-23). Headquartered in Mumbai, the Bank has a spread of 198 branches, 214 ATMs and an employee strength of over 2300. The Bank offers the entire gamut of services across Retail Banking, Corporate Banking and International Banking.
