The Zoroastrian Co-operative Bank Ltd., established in 1927, completes 75 years today. The Bank was formed as a Co-operative Credit Bank governed under the Co-operative Societies Act, VII of 1925. By virtue of its enviable track record, it qualifies itself as one of the well organised and stable Co-operative Banks in Mumbai. From its humble beginnings, it has gradually but steadily reflected positive results under all parameters of banking business ever since 1994 when Reserve Bank of India granted a license to carry on banking business under section 56 of the Banking Regulation Act, 1949.

The main objective of the Bank has been to render effective banking services to its vast clientele hailing from the various strata of Society and also offering its services to members of all communities. What distinguishes the Bank from its competitors, is the very high level of personalised services and effective and time bound catering to the need-based requirements of its constituents. All the branches of the Bank, bear a neo-modern aesthetic appearance, where every customer is welcome with a smile.

The Bank is proud of its very professional Board of Directors renowned in their respective chosen fields and inclusive of Chartered Accountants, Ex-Bankers, Solicitors, Industrialists, Businessmen and Social Workers. With their varied experience and collective acumen, they have been successfully spearheading the progress of the Bank.

Banking operations are fully computerised at all its branches and equipped with the latest available Information Technology, culminating in high staff productivity. The branches function under a single-window concept where the customer is free to avail of any type of banking service dispensed across the counter. The teller system ensures effective time-bound payments and credit proposals are also attended to expeditiously.

The Bank has also adapted different working hours at various branches based upon the location-wise requirements of its clientele. The various schemes introduced by the Bank caters to the assorted requirements of various types of clientele and there is a ready package available for every customer, irrespective of the nature of the requirements. As of date, the Bank has eight branches situated at prime locations in the city and one branch situated at Pune.

The Bank has also been granted permission to open and maintain accounts of Non Resident Indians in Rupee currency under both the NRE / NRO nomenclatures. For the convenience of the customers, the Bank has also installed an ATM and plans to expand the network in future. Notwithstanding the size, the Bank is in a position to offer all types of banking services and products as are available with other Banks.

In the current financial year ended 31st March, 2002, the Bank has continued to show healthy results. The membership has increased to 10,843 and the Share Capital and Reserves stand at Rs. 24.96 crores depicting an increase of 21%. The Deposits at Rs. 187.88 crores reflect an increase of 16%. Correspondingly, notwithstanding the slump evidenced by the banking industry in general, the advances have also increased by 19% and stand at Rs. 81.48 crores. The total Investment portfolio is reflected at Rs. 117.33 crores. The Working Capital of the Bank has also increased by 16.33% to Rs. 215.61 crores. The Capital Adequacy Ratio is also reflected at more than double the levels stipulated by Reserve Bank of India, thereby reflecting the health of the Bank. The Bank continues to be classified as an 'A' grade Bank by the Auditors deputed by the Statutory controlling authority.

A noteworthy aspect of the Bank's financial results is its net non-performing assets being maintained at a zero level, unlike the adverse trend in the banking industry. The Bank continues its policy of carefully selecting its Advances and maintaining steady growth with good quality assets.

Brimming with enthusiasm and confidence in its devotional efforts towards ensuring progress, the Bank looks forward to achieving better results in the time to come.