Abhyudaya Co-operative Bank Ltd

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Abhyudaya Bank
Type Co-Operative
Industry Banking
Financial services
Founded June 1965
Headquarters Mumbai, India
Key people Vijay S. Morye
(managing director)
Products Forex & trade
Mortgages
Demat Services
internet banking
Revenue IncreaseINR131452.844 million (US$2.2 billion)(2012–13)[1]
Net income IncreaseINR912.177 million (US$15 million)(2012–13)[1]
Website www.abhyudayabank.co.in

Abhyudaya Co-operative Bank Ltd is an urban multi-state Cooperative banking institution based in Maharashtra, India and operating as a co-operative bank since 1965.[2]

History[edit]

In the year 1964 several social workers and activists came together and formed Abhyudaya Co-operative Credit Society Ltd with a relatively small share capital of INR5000 (US$83).
Within a short period of time Abhyudaya Co-op, Credit Society got converted into an Urban Co-operative bank.[3]
In June 1965 Abhyudaya Co-operative Bank Ltd was finally established as a full fledged co-operative Bank.[3]
It was conferred with Scheduled bank status by the Reserve Bank of India in the year 1988.[3]
On 11 January 2007 the Bank was registered as a multi-state co-operative bank by the Central Registrar, New Delhi.[2]

Branches[edit]

It has branches in Metropolitan Mumbai, Navi Mumbai, Pune, Thane, Raigad, Nagpur, Nashik, Nanded, Kankavali and Aurangabad in Maharashtra State, Vadodara and Ahmedabad in Gujarat State, Udupi and Mangalore in Karnataka State.

The area of operation of the bank is confined to 3 States

  • Maharashtra
  • Gujarat
  • Karnataka.

The Bank further proposes to extend its area of operation to other States.[3]

Abhyudaya Co-operative Bank Ltd has 113 computerized branches in India. [4]

Acquisitions[edit]

See also[edit]

References[edit]

  1. ^ a b "FINANCIAL RESULTS". Abhyudaya Bank. Retrieved 2013-09-11. 
  2. ^ a b "Abhyudaya banks on technology". thehindubusinessline. Retrieved 2012-10-11. 
  3. ^ a b c d "Success Story of Abhyudaya Bank". Abhyudaya Bank. Retrieved 2012-10-11. 
  4. ^ "Find IFSC Code of Abhyudaya Bank". bankifsccodes.co.in. Retrieved 2014-05-09. 
  5. ^ "Abhyudaya Bank takes over Citizens Co-op". economictimess. Retrieved 2012-10-11. 
  6. ^ "Another Gujarat bank now has Maharashtra ownership". indianexpress. Retrieved 2012-10-11. 
  7. ^ "Abhyudaya Co-op to acquire A`bad bank". Business Standarad. Retrieved 2012-10-11. 
  8. ^ "Abhyudaya Co-op to acquire three banks". financialexpress. Retrieved 2012-10-11. 

External links[edit]