Candolim: It is delighting to pronounce that Candolim Urban gained appreciation for its uninterrupted services to all shareholders when country was passing through different difficult pandemic period said Dr. Shivanand N. Verlekar.
He was delivering chairman’s address at 29th annual general body meeting of the society in Candolim. The society recognized its responsibility and streamlined every scheme to benefit the customers fully as per as the changing situation. In spite of extraordinary crisis condition, the Society maintained stability and delivered healthy balance sheet performance he said. Constant touches with customers necessarily help to apprehend their concerns and bring flexibility in our operations thereby reducing the risk factors in our transactions. Society’s primary business is commercial banking operations for retail customers such as retail lending, payments, deposit taking and daily pigmy collection. Our capabilities strengthened by building senior management teams, developing innovative products and widening our distribution reach through physical and digital channels. Society’s foundation of banking franchise is essentially relation based and shareholder driven supported by strong societal governance.
Wide distribution network extended by 13 branches across Goa, strong motivated team and sharp execution focus helped society to encompass various business sectors to strengthen the balance sheet with shareholder base of 25120 having capital share Rs. 6.9 cr, net worth Rs. 10 cr, investments Rs. 26 cr and working capital rs. 126 cr. Sequential growth in most of these parameters over the years including deposits, retail and non-retail advances and total income suggest that people are attracted to this society because we do not compromise on our professionalism approach, ethics and relationship values. The concerted efforts made by our teams reflected in superlative financial performance that delivered profit base of 92 lacs and healthy capital adequacy ratio of 18.2% as against the recommended standard 9%. Surprisingly society’s impressive performance for past several years was widely recognized when our chief executive officer Mrs. Sneha Ganpat Raikar was offered “best secretary award 2021” by Goa’s chief minister Dr. Pramod Sawant at recently held “68th national cooperative week 2021 in Panaji.
Worth mentioning that society provided much needed flexibility in operations by delivering services on shift basis during peak pandemic, helped people in vaccination drive, provided door to door provisions and medicines to affected patients. During the proceedings society honored distinguished citizen Shri Shankar Krishna Mandrekar by granting “utkrista Samaj Sevak Puraskar 2021” for his valuable contribution towards social, educational and religious commitment. Felicitations offered by Dr. Verlekar included shawl, Srifal, scroll of honor and cash purse. Best student award 2021 was also presented to Rudra Ratish Raikar for his performance in SSC exam. Present on the occasion were directors Gurudas Kandolkar, Kishore Sangodkar, Aditya Verlekar, Ms. Megha Sangodkar, Ganpat Raikar and the dignitaries in attendance namely Digambar Bandodkar, Kamlakant Sangodkar, Raikar etc. vice-chairman Anand bandodkar presented vote of thanks and Ms. Sneha Raikar chief executive officer read the proceedings.