Saraswat Bank aiming high, sets business target of Rs25,000 crore

Saraswat Bank, the biggest cooperative bank in the country, has set a target of Rs25,000 crore in total business for the current financial year against Rs23,500 crore in 2009\10.

"We are a good bank and now we aspire to become a great bank," chairman of the bank Eknath Thakur said at a function today.

He said the bank has adopted a focused growth plan having already acquired seven cooperative banks by investing its own funds to the tune of Rs280 crore, adding the bank wants to grow organically as well and would open 250 branches by end of 2011. The bank at present has over 200 branches spread over six states.

Thakur was speaking at a function where Saraswat Bank Bhawan, a state-of-the-art Corporate Centre, in Central Mumbai, was inaugurated by air chief marshal PV Naik this morning.

The new logo and new Corporate Centre has enhanced brand image of the bank and changed the perception of the people who earlier considered every co-operative bank to be an obsolete financial institution with a stagnant image, he said.

Pavitra, daughter of slain policeman Tukaram Ombale in the 26/11 terror attack, presented air chief marshal Naik with a sword as a memento on behalf on the bank employees. She has been employed with the bank since last year.