Professional Documents
Culture Documents
Public company
Industry
Banking
Financial services
Founded
14 September 1918
Investment Banking
Commercial Banking
Retail Banking
Private Banking
Asset Management
Mortgages
Debit Cards
Consumer Banking
Current Account
Demat Account
Term Deposits
Corporate Banking
Finance And Insurance
Working Capital
Term Loan
Corporate Loan
Bank Guarantee
Bill Discounting
Import And Export Finance
- Trade Finance
Internet Banking
SMS Banking
Mobile Banking
Revenue
394,095.60 million
(US$5.9 billion)(2013-14)[1]
Net income
1,470.90 million
(US$22 million)(2013-14)[1]
Number of
employees
4351[1]
Website
Official Website
Company profile
The Bank has a very humble but a very inspiring beginning. On 14th September
1918, "The Saraswat Co-operative Banking Society" was founded. Mr. J.K.
Parulkar became its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr.
P.N. Warde, the first Secretary and Mr. Shivram Gopal Rajadhyaksha, the first
Treasurer. These were people with deep and abiding ideals, faith, vision,
optimism and entrepreneurial skills. These dedicated men in charge of the
Society had a commendable sense of service and duty imbibed in them. Even
today, our honorable founders inspire a sense of awe and respect in the Bank
and amongst the shareholders.
The Society was initially set up to help families in distress. Its objective was to
provide temporary accommodation to its members in eventualities such as
weddings of dependent members of the family, repayment of debt and expenses
of medical treatment etc. The Society was converted into a full-fledged Urban
Co-operative Bank in the year 1933.
The Bank has the unique distinction of being a witness to history. The Bank,
which was originally founded in 1918, i.e. close on the heels of the Russian
Revolution, also witnessed as a Society and as Bank - the First World War, the
Second World War, India's freedom Movement and the glorious chapter of postindependence India. During this cataclysmic cavalcade of history, the Bank as a
financial institution and its members could not of course remain unaffected by
the economic consequences of the major events. The two wars in particular
brought in their wake, paucities of all kinds and realities and stand by its
members in distress as a solid bulwark of strength. The Founder Members and
the later-day managements of the Bank continued to demonstrate their
unwavering faith in the destiny of the common man and the co-operative
movement and they encouraged the shareholders to save despite all odds.
Thanks to these sustained and assiduous efforts over 25 years after its inception,
the Bank had gained a strong foundation in terms of its membership, resources,
assets and profits. By 1942, the Bank was fulfilling all the banking needs of its
customers.
During the late fifties, the Bank grew from strength to strength. The Bank had
established five branches within the city of Mumbai and one each at Pune and
Belgaum. In its 50th year, the Bank chose a bee motif to symbolise the Bank's
emblem - a fitting and appropriate characteristic of a Bank that believed in hard
work, a search for all that is good, a team spirit to achieve its objectives and
selfless service to its members and customers. The Bank had grown in stature,
progressed in its social and economic objectives and produced an image of what
an ideal bank should be. Resultantly, in the year 1977-78, the Bank's gross
income crossed the Rs.3.00 crore mark for the first time.
In 1988, the Bank was conferred with "Scheduled" status by Reserve Bank of
India. The Bank is the first co-operative bank to provide Merchant Banking
services. The Bank got a permanent license to deal in foreign exchange in 1978.
Presently the Bank is having correspondent relationship in 45 countries covering
9 currencies with over 125 banks. In 1992, the Bank completed 75 years.
Platinum Jubilee Celebrations were inaugurated on 14th September, 1992 and
the Bank also crossed the business level of Rs. 700 Crores.
The beginning of the 21st century has been a giant leap forward for the Bank.
The Bank chose a path of organic/inorganic growth and our pace of growth
accelerated .The Bank's total business which was around Rs.4000 Crore in 2000
almost tripled to Rs.15295 Crore in 2007.
In the year 2008, the Bank launched a Branding Initiative . The purpose of such
an exercise was to reconfirm the thrust of the Bank on its core values, which can
be summed up as a "Sense of Belonging". The name of the Bank should always
inspire a Sense of Belonging in all its stakeholders and the Bank continues to
fulfill the changing needs and expectations of the customer with unflinching
gusto and aplomb.
MISSION STATEMENT
"To emerge as one of the premier and most preferred banks in the country by
adopting the highest standards of professionalism and excellence in all the areas
of working"
MILESTONES
In the last two decades the Bank has witnessed a steady growth in business and
also taken several Strategic Business Initiatives such as undertaking Business
Process Reengineering initiative, merging seven Cooperative Banks and then
consciously nurturing them. The Bank tied up with VISA International for
issuance of Debit Cards.
In 2011, the Bank was granted permission for All India Area of Operation by
Reserve Bank Of India.
The Bank has crossed the milestone of Rs.50000 crore by 31st March 2016.The
Bank has a network of 283 fully computerized branches as on 31st March, 2016
covering six states viz. Maharashtra, Gujarat, Madhya Pradesh, Karnataka, Goa
and Delhi. The Bank is providing 24-hour service through ATMs at 255 locations.
The Bank has an ambitious business expansion plan in place to have a presence
in all major cities of the country and reach a business level of Rs.100000 crore by
2021
It is a matter of immense pride for the Bank that its new Corporate Office at
Prabhadevi, Mumbai has become operational. The office establishes our strong
presence in the financial capital of the country. The massive edifice in crystal
glass in the heart of Mumbai gently reminds everyone of the Numero-Uno
position which the Bank holds in the Cooperative Sector. The usage of state of art
technology coupled with personal ambience to make everybody comfortable
once again reiterates the Bank's adherence to "Think Global, Act Local". The
address of our new Corporate Office is as under:
Board of Directors
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Products
Working Capital
Corporate Loan
Term Loan
Import Finance
Bank Guarantee
Bill discounting
Property Loan
Rental Loans
Social Initiatives
'Project Hope' of late Baba Amte's Maharogi Sewa Samiti at village Mulgavan,
Taluka - Jhari Jamini, Distt. Yeotmal. We did so with a substantial donation of Rs.
1.00 crore to this project, where experts and volunteers are engaged in offering
hope and succor to thousands of farmers by building check dams and initiating
farmers into newer cultivation practices enabling them to bolster income
generation and income supplementation.
Services
Debit Card
VISA Debit Card
SMS Banking
SMS Banking brings the Banking at your fingertips. Bank has introduced the
SMS Banking Facility for its customers.
Under SMS Banking following facilities are offered to the customers.
Alert for Sweep In Sweep Out facility (Sweep In Sweep Out facility
available for Elite Accounts only)
You have to type the product (e.g. SBPUB) and the account number
(e.g.12345) in the keyword.
The keywords and their syntax for SMS Requests are given below:
SMS Message
Information
Balance Enquiry
Last 3 transactions
SBAL
Example: SBAL SBPUB
10 SBAL CAPUB 12
LST3
Example: LST3 SBPUB
10 LST3 CAPUB 12
Stop payment of
cheque
Send keyword as
STOPCHQ(Space) (15
digit Account no)
(Space) (Cheque No.) to Specific Cheque will be stopped
9223810000.
and informed by SMS.
Example STOPCHQ
126203100009999
12345
Send keyword as
EMAILID(Space)
(domain.com) to
9223810000.
Example EMAILID
abc@xyz.com
Unlocking of ATM
PIN
Send keyword as
UNLOCKCARD to
9223810000.
Unlocking of
Netbanking Id
Send keyword as
UNLOCKIB to
9223810000.
Send keyword as
Unlocking of Mobile
UNLOCKMB to
Banking Id
9223810000.
Social Initiatives