SVC Bank sets sight on high growth through personalized banking solutions

• Move to revive economic and business sentiments in the festive season among diverse customer segments
• Revamps its product lines to cater to new age salaried professionals, large corporates and MSME customers
• Offers host of complimentary benefits ranging from accidental death insurance cover to 24/7 concierge services to airport lounge access to auto FD to high cash deposit to free debit cards

04.11.2019; Mumbai: SVC Bank (SVC Co-operative Bank Ltd.), one of the leading co-operative banks in the country, today announced a revamped product line to make festive season much more special for its customers. The Bank has set sight on exponential growth owing to a personalization strategy – offering customized solutions to diverse set of customers including salaried professionals, large corporates and MSME segment.

The Bank’s new product line comprises of five products and solutions, namely – Gold and Silver accounts for salaried professionals; Pearl, Premier and Silver Plus – Current accounts for MSME businesses and Large corporates; and, Classic Savings Account – for retail banking customers. The Bank is also offering a host of complimentary benefits ranging from accidental death insurance cover to 24/7 concierge services to airport lounge access to auto FD to high cash deposit to free debit cards – across its product lines.

Commenting on the launch, Sanjay Rajoria, DGM – Retail Distribution, SVC Bank, said, “While the Indian economy is showing signs of recovery, we at SVC Bank are empowering our customers to celebrate the festive season through customized solutions and attractive offers. Our USP is personalized banking. With the revamped product line, we have deep dived into micro segments and identified the untapped unique needs. We are sure the new product line will appeal to a large spread of individuals, traders and institutional customers because it addresses specific financial needs of every segment and make the festive season more rewarding to each of them.”

About SVC Bank

Set up in 1906, SVC Bank has contributed significantly to the development of the cooperative movement in India for over a century. Today, the Bank is one of the oldest and most recognized names in the country’s co-operative Banking space and remains the country’s only multi-state scheduled Bank with a presence across 11 states – Maharashtra, Karnataka, Goa, Gujrat, Rajasthan, Delhi, Haryana, Madhya Pradesh, Andhra Pradesh, Telangana, Tamil Nadu. It is a bank on the growth curve clocking a 7.64% growth in total deposits and 11.43% growth in total advances (FY 18-19). With a total business of Rs. 27764 crores plus and a net profit of Rs. 140.01 crores (FY 18-19), it has proven its robust and strong fundamentals. The gross NPA has seen a decline by 0.09% down to 3.50% in FY 18-19. The Bank offers the entire gamut of services across Retail Banking, Corporate Banking and International Banking. Headquartered in Mumbai, the Bank has a vast spread of 198 branches, 211 ATMs and has an employee strength of over 2500.

SVC Bank has been acknowledged for its stellar work and has been awarded with:

o    ‘Best E-Payments Initiative’ and ‘Best Debit Card Initiative’ awards (Large UCB Category) at Frontiers of Co-operative Banking Awards (FCBA) 2019, by Banking Frontiers

o    First prize (Banks having deposits above INR 2,000 Crores) for 2018-19 by The Brihan Mumbai Nagari Sahakari Banks Association Ltd., Mumbai

o    Maharashtra Best Employer Awards – 2018 by World HRD Congress

o    Indian Affairs Most Promising & Best Managed Co-operative Bank 2018 Award and Certificate of Excellence at  9th Annual India Leadership Conclave & Indian Affairs Business Leadership Awards 2018

For more details visit www.svcbank.com