CENTRAL BANK OF INDIA TURNS 100

Central Bank of India announced the beginning of its centenary celebrations with a simple and elegant function. Started by Sir Sorabji Pochkhanwala, as a bank totally managed by Indians, exclusively meant for Indians on 21^st December 1911, the Bank today has evolved into having the third best bank.

With a total business of more than INR 2,70,000 Crore (as on September 2010) the bank has set itself a target of crossing INR 3,00,000 Crore by the end of current fiscal year.

Under the present leadership, one of India’s premier public sector banks, Central Bank of India has scaled new heights and received many accolades from all quarters.

Keeping in mind the founding belief of being ‘central’ to the consumers, various new consumer focused initiatives have resulted in a substantial business growth for the Bank and its customer.  In the Centenary Year, the Bank has plans to expand it’s existing network in domestic & overseas markets, introduce new products aimed in particular at the younger customer segment and accelerate the technology based Financial Inclusion programme as mandate.

Commenting on this landmark event in the history of the bank, Shri S. Sridhar, Chairman & Managing Director, Central Bank of India said, “The Centenary Year will be the Year of Customer Service.  The Bank will have physical presence in every district in the country by the end of the Centenary Year”

President of India, Smt. Pratibha Devisingh Patil released a Commemorative Postal Stamp and First Day Cover.  Shri Gurudas Kamat, Minister of State for Communications & Information Technology, Government of India, presented the ceremonial First Day Cover to the heirs of Bank’s founder Sir Sorabji Pochkhanwala.

Shri K. Sankaranarayanan, Governor of Maharashtra did a virtual opening of 100 ATMs of the Bank and Shri Shri Namo Narain Meena, Minister of State for Finance did the honour of virtual adoption of 100 villages on behalf of Central Bank of India.

Delivering her inaugural address, Smt. Pratibha Devisingh Patil, President of India lauded the contribution made by Central Bank of India in the development of India and urged the Bank to continue the remarkable work that was done by the Founder and succeeding officers and staff of the Bank.  She emphasized the need for Financial Inclusions and extracted the Bank to work towards this goal with redoubled vigor.

Other dignitaries also praised the work of Central Bank of India and congratulated the Bank’s management and staff on achieving this great milestone and maintaining sound values and practices.

About Central Bank of India:

Central Bank of India is the one of the largest public sector banks in the country with a spread of 3644 branches, and 288 satellite offices, Extension Counters and Centralized Processing Centers and about 35000 employees. With a deposits of INR 1,67,813 Crores (as on 30^th September 2010) and advances of INR 1,07,118 Crores, the bank has recorded a net profit of INR 716 Crores (for the half year ended September 2010). The bank has been recognized as one of the top three nationalized banks in The Economic Times Brand Equity’s List of Top 50 Service Brands of India for the year 2009 and ranked amongst the top five most trusted banks by the AC Nielsen and The Economic Times in the year 2009-10.

SOURCE: https://www.centralbankofindia.co.in/upload/news/Press_Editors_Press_Release_centenary.pdf