SVC Bank A Century of Trust, Gratitude, and Financial Excellence: Celebrating 100 years. 

MUMBAI, DECEMBER 05^th , 2023 (GPN): SVC Co-operative Bank Ltd. (SVC Bank – earlier known as The Shamrao Vithal Co-operative Bank Ltd.) with a rich legacy spanning around 117 years, organised the Centenary Celebrations of its Santacruz West Branch, highlighting a remarkable journey of a century, dedicated to providing trusted financial services to the society.

In a heartfelt show of appreciation, 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 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. 97 yrs old customer, Mr. Dinkar Burde, expressed his thoughts saying, “I have been associated with the branch since 75 years now. They have provided me with prompt services throughout. Even today, they attend to me as an elderly man, promptly. I bless the branch and wish them continued excellence.”

On the occasion, an audio-visual film showcasing the various milestones of the branch was presented.
The celebrations started with Lord Satyanarayan Puja followed by a Customer Rendezvous joined by 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.

Mr. 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. 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.”

‘This is our second branch after SV Marg branch that has lived up to the trust of thousands of shareholders and customers for over a century now,” said Mr. Ravinder Singh, Managing Director, SVC Bank. He added, “It is the tenacity of these branches to keep doing the right thing in the interest of the discerning customers, irrespective of the challenge at hand, that has contributed in the blossoming of this magnificent tree of trust, seeds of which were sown 100 years ago. We owe this legacy to the values and principles given by our Founders and the faith bestowed upon us by our shareholders, customers and employees and express our sincere gratitude to all. We stand committed to the same principles of co-operation, values and ethos to carry forward the vision set forth by our Founders and continue to serve the community, society and ultimately our great nation.”

The rich legacy of Santacruz West Branch is filled with heart-warming stories, showcasing the unyielding faith of customers and shareholders alike. 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. A rebranded identity followed to take the youth connect ahead. 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. The Branch draws strength from a century-old foundation of trust and a loyal customer base. Fuelled by the Bank’s commitment to adopting the latest technologies like Finacle CBS, Santacruz West Branch is poised to carry this rich legacy forward into a future filled with promise and possibilities.

About SVC Bank

Set up in 1906, SVC Bank is a 116-year-rich institution that 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 recognised names in the country’s cooperative Banking space. SVC 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), it has proven its robust and strong fundamentals. Headquartered in Mumbai, the Bank has a vast 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. SVC Bank was recently awarded for its 100+ years of service at the hands of Hon’ble Union Minister of Home Affairs and Cooperation – Shri Amitbhai Shah. It has also been acknowledged with many prestigious recognitions, like the ET Best BFSI Brands 2023, ET Best Organisation for Women 2023, Best Risk Management Initiative and Best Security Initiative in Large UCB category at NCBS & FCBA Awards 2023, Banco Blue Ribbon Best Bank 2022 Award (Above 15000 Crores Business Mix category), Best Bank Award by The Maharashtra Urban Co-operative Banks Federation (Large UCB category), Best Bank award by Maharashtra State Sahakari Bank Association Ltd. for FY 21-22. The Bank was among the first few cooperative banks in the country to get the Authorized Dealer Category I License (Independent Forex Operations) from RBI in December 2007. In July 2008, it launched its International Banking Division, which handles more than Rs. 5,000 crore forex business today.

Mr. Durgesh Chandavarkar – Chairman, SVC Bank along with key members from Board of Directors and Board of Management of SVC Bank encouraging the Branch Manager of SVC Bank Santacruz Branch on the occasion of the branch’s Centenary Year Celebrations.

97 yr old customer Mr. Dinkar Burde, associated with the branch since 75 years, being felicitated on the occasion of the Centenary Year Celebrations of Santacruz West branch.Ends