Our Bank’s plunge to excellence in all directions will be powered by the VISION that provides overarching inspiration, The VALUES that serve to guide taught & action, The VITALITY that embarks on strategy formation & execution. The immense potential of our Bank will be realized by the distinctive amalgam of the ‘Vision, Values & Vitality.
To continuously strive for synergy between technology, systems & human resources for providing products & services that meet the quality, performance & aspirations of the vast clientele & to maintain the highest standards of ethics & societal responsibilities, constantly innovate products & processes & develop teams that keep the momentum going to take the Bank to excellence.
The Beginning :
A dedicated group of social workers and labour movement activists, imbued with the spirit of service to the cause of mill workers, other industrial and hitherto neglected economically weaker sections of society started Abhyudaya Co-op. Credit Society Ltd. in 1964, with a small share capital of Rs. 5,000. The area of Kalachowki, Sewri, Parel and their surroundings were predominantly populated by low income industrial labour and lower middle class people at that time. In a short period of time Abhyudaya Co-op. Credit Society got converted into an Urban Co-op. Bank. Finally in June 1965, Abhyudaya Co-op. Bank Ltd. was established with the motto of "Prosperity through Co-operation".
A Forward March :
The Bank was conferred with Scheduled Bank Status by Reserve Bank of India in September 1988. Over a span of 49 years, it became one of the leading Urban Co-op. Bank in the country with branches in Metropolitan Mumbai, Navi Mumbai, Pune, Thane, Raigad, Nagpur, Nashik, Nanded, Kankavali and Aurangabad in Maharashtra State, Vadodara and Ahmedabad in Gujarat State, Udupi and Mangalore in Karnataka State. On 11th January, 2007 the Bank was registered as a MultiState Co-op. Bank by the Central Registrar, New Delhi. The area of operation of the bank is confined to 3 States - Maharashtra, Gujarat and Karnataka. The Bank further proposes to extend its area of operation to other States. The merger of Shree Krishna Sahakari Bank Ltd., Vadodara, Gujarat State, Janatha Co-op. Bank Ltd., Udupi, Karnataka State and Manekchowk Co-op. Bank Ltd., Ahmedabad, Gujarat State has been effected. For the F.Y. 2013-14 Bank has set a target of achieving a business mix of Rs. 15,800 Crore.
Recently, Bank has registered itself with CPSMS (Central Planned Scheme Monitoring System) which is a project of Dept. of Expenditure, Ministry of Finance, New Delhi for providing AADHAAR based Direct Cash Transfer Benefits (Subsidies) to the customers.
Growth & Strength :
As on 31st March 2013, the bank has 1.51 lakh members and more than 16.66 lakh depositors. During the F.Y 2012-13 upto 31st March 2013, Bank has achieved substantial growth in all perspectives reflecting an overall growth of 20.64% in business mix & total business mix of the bank has reached over Rs. 13145 Crore. As on 31st March 2013, Bank’s Deposits have reached upto Rs. 8036.40 Crore with rise of 23.27% while Advances have reached upto Rs. 5108.88Crore with a rise of 16.70%. The strength of the Bank is reflected in the fact that it’s Paid up Capital and Reserves have amounted to Rs. 970.08 Crore and Investments are to the tune of Rs. 3428.00 Crore. The Capital Adequacy Ratio maintained by our bank is as high as 13.22%. For the F.Y. 2012-13, the Net Profit of the Bank after tax/provision stood at Rs. 91.22 Crore.