MUMBAI, Dec. 13, 2019 /PRNewswire/ — The Citizencredit Co-operative Bank (CCB) completes its 100th year of service and is set to join the select club of Centenarian organizations on May 8th, 2020. Registered with the Registrar of Co-operative Societies on May 8th, 1920, the Bank commenced full-fledged banking operations on October 20th, 1984. The Bank has been rated CRISIL A3 by CRISIL in 2015 and CARE A3+ by CARE in 2019.
The Bank crossed Rs. 100 crores deposit in the year 1994-1995 and has plans to reach a business mix of Rs. 10,000 crores in the next 5 years. In FY 2018 -19 the Bank’s credit portfolio recorded a double-digit growth. The business mix has risen from Rs. 4423.09 crores as on March’18 to Rs. 4812.89 crores as on March’19. The Bank’s Treasury operations too have consistently outperformed the 10-year benchmark yield. CCB has been continuously assessing and monitoring its credit portfolio to identify early warning signals of stress to take proactive steps to ensure the health of the same. This has resulted in a reduction of Net Non-Performing assets from 2.64% in March 2018 to 1.65% in March 2019.
CCB has been proactively keeping up with technological changes in every step of the way and has been offering several customer conveniences ‘value added services’. They maintain excellent rapport with customers and have bridged the gaps in technology through personal banking services and have increased their customer touch points through social media. It was one of the first co-operative banks to be fully computerized way back in 1991. The Bank hosts various facilities like CCB mobile banking app, MPOS facility, Rupay Debit cum ATM cards, SMS alerts facilities, email statement options, and other tech facilities that satisfy new generation customers. CCB has also set up an internal Ombudsman scheme which responds to customer queries on top priority. However, they have a commitment towards their roots by not moving away from providing a traditional banking experience.
Speaking on the occasion, The Managing Director & CEO said, “We feel proud to have reached this major milestone with a customer-first philosophy. Since our founding on May 8th, 1920, we have served lakhs of customers and we look forward to creating high service standards in the coming years. We would also like to thank our customers, employees, shareholders and other stakeholders for contributing to our success.“
In keeping with its customer-centric philosophy, the Bank is organizing multiple customer meets at various cities / venues, to connect with the customers and build the brand. CCB puts a premium on integrity and transparency and invites customers to interact with the Bank, with the aim of retaining customer trust and continued patronage.
On the occasion of its approaching Centenary, the Bank is putting a special focus on Priority Sector, SME loans and has also waived processing charges on certain retail loan products till May 08th, 2020.
About Citizencredit Cooperative Bank
Citizencredit Co-operative Bank Ltd. started in 1984. Since then they have worked to build a culture that puts relationships and customers needs above all. Formerly known as The Bombay Catholic Urban Co-op Credit Society, the bank was established through the cumulative efforts of a group of young minds who wished to create a strong financial foothold for the catholic community. The bank was envisaged to be a channel that fuelled the hopes and dreams of each customer through personal engagement and customized banking plans. 34 years later, the bank continues to uphold the same values while adapting to modern banking systems.
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