Bassein Catholic Co-op.Bank Ltd., was established as
Credit Co-operative Society – by Rev.Msgr.P.J.Monis on 6th
February 1918 with the help of some social activist in
Vasai, which has large Christian population.
On 13th March, 1986, the Credit Society was
converted into an Urban Co-operative Bank and on 1st
December 1990, it was awarded the prestigious status of a
Schedule Bank by the Reserve Bank of India. Since then the
Bank has grown leaps and bounds registering deposit growth
from `65.58 crore in 1990 to `2974.16 crore in 2013 and
advances growth of `39.58 crore to `2036.04 crore during
the same period. The Bank achieved a net profit of `65.71
crore for the year ended 31st March 2013 and
was also successful in reducing gross NPA to 2.53% with
net NPA 0%. With the net worth of `491.11 crore the Bank
has maintained industry best CRAR of 20.59% as on
With the present business mix of more than `5000 crore,
the Bank is looking at bigger targets of business mix of
more than `10000 crore in couple of years.
The Bank has 86000 active members.
The spectacular performance of the bank, over the years
has been duly acknowledged by Co-operative Banking
Association/Federations by bestowing the following awards.
1. ‘Sahakar Bhushan’ Award 2013-14 by Maharashtra
2. ‘Pratibimba’ Award 2013-14 for Annual Report by
Sahakar Sugandha magazine published by Sahakar Bharti.
3. The Indian Banker magazine given 1st rank
to our Bank on the basis of Average Cost of Funds, Return
on Assets, CRAR ,and Business per Empolees
4. Banking Frontiers Year 2011 Award for Excellence in
Recovery & NPA Management in large Urban Co-Operative
5. "The Best Performing Co-op.Bank Award 2008-09. 2nd
position from All India, 1st position from
MaharashtraState and 4th Highest deposits
holding Co-op.Bank in India by INDIAN ACHIEVERS FORUM, New
6. 3rd , best Urban Co-op.Bank for the year
2007-08 having deposits above `500.00 crore by The
Maharashtra Urban Banks Federation Ltd., Mumbai.
7. The Best Urban Co-op.Bank for the year 2004-05,
2005-06, 2006-07 and 2007-08 by The Maharashtra State
Co-operative Bank's Association Ltd., Mumbai.
The Bank has 38 branches with 27 Onsite and 2 Off site
ATMs . All the branches operate on CBS.
The Bank is the first co-operative Bank in Vasai region
who provides RTGS/NEFT services to its customers. The Bank
also provides document franking services, SMS alert
,E-Statement ,Mobile Banking, and multicity cheques
facilities to its customers.
The Bank has tied-up with SIDBI for credit link Capital
Subsidy (CLCSS) facility to the prospective MSME
enterprises wish to avail loan for purchased of Plant and
The Bank has sign MOU with CRISIL and SMERA for rating
for Units enjoying/Proposed to enjoy credit limit of 25
lacs and above or borrowers intending to avail relaxation
in rate of interest.
Through RuPay ATM Card the Bank has established access
to more than 100000 ATMs of other banks all over India.
The Bank known for its best customer service enjoys
trust and confidence of both its shareholders as well as
The Bank has major share in establishing Cardinal
Gracious Hospital, a leading hospital in Vasai and Gonsalo
Garcia College in Vasai and numerous other medical,
educational and social institutions.
The Bank is led by Mr. Michael Furtado the President,
Mr. Christopher Rodrigues - Vice President and Mrs.
Brijdina Coutinho - Pricipal General Manager and Mr.
Agnello Pen - General Manager and Thus the Bank nurtures
and encourages co-operation in true sense among all
sections of the society.