Profile Of GBCB
The Greater Bombay Co-operative Bank Ltd, more popularly known as Greater Bank, had its humble beginnings over five decades ago on 10th December 1952, when a small group of philanthropists got together to set up the Bank. Though the founders were pursuing interests of their own, they decided to establish the bank with the sole motto of serving the community at large. With this end in view, they introduced attractive deposit and lending schemes relevant to the times. The Bank made a mark for itself with high quality of service, which primarily induced several customers to the bank. Having achieved the status of a scheduled bank in 1996, The Greater Bombay Co-operative Bank has been making giant strides by attracting customers from the low, middle and upper income strata. This speaks volumes about the faith and the trust reposed in the Bank by the public.The Bank has achieved distinguished success in co-operative banking sector particularly during the last few years because of its distinct objectives, strategic plan of action, its continuous monitoring and sharing of success with the concerned personnel. Good Corporate Governance and a committed management with the Board of Directors with keen interest in the well being of the Bank has been instrumental in The Greater Bombay Co-operative Bank reaching greater heights.During the Financial Year 2012-13, Bank's Deposits increased by ` 1,43.8 cr at a growth rate of 11.1% to ` 1,445 cr from ` 1,301 cr a year ago. Advances also increased by ` 285.3 cr at a growth rate of 45.3% to reach at ` 915 cr from ` 629 cr a year before. As a result, Business mix also increased by ` 429.2 cr with a 22.2% growth to ` 2,359 cr from `1,930 cr. The Bank maintains a decent CRAR of 16.9% as against a requirement of 9% as per RBI.