The newly elected board of directors of the Bicholim Urban Co-operative Bank.
BICHOLIM
The Board of Directors has been elected unopposed to the Bicholim Urban Co-operative Bank, a prominent bank in the State’s co-operative sector.
Vitthal Prabhudesai has been elected as the chairman, while Kaustubh Sanzgiri was elected vice-chairman. The other directors are Suresh Parrikar, Shital Kadkade, Harshvardhan Garde, Nishikant Nagarshetka, Atmaram Natekar, Vindesh Shirodkar, Milind Sardesai, Rajesh Amonkar, and Deepika Pednekar.
The election process was conducted by the Registrar of Co-operative Societies’ office, with Assistant Registrar Hemant Khedkar serving as the returning officer.
The bank’s performance for the year 2025 is total business (Rs 943 crore), deposits (Rs 635 crore), loan disbursement (Rs 308 crore), gross profit (Rs 5.06 crore), net profit (Rs 3.77 crore), gross non-performing assets (5.22%), Net NPA (0%).
Vithal Prabhudesai and Suresh Parrikar informed that the capital adequacy ratio is 17.77%, which is 5.77% higher than the minimum required by the Reserve Bank of India.
Newly elected Board Chairman Vitthal Prabhudesai expressed gratitude to the shareholders, customers, and well-wishers for their trust and support.
He stated that the bank’s progress is a result of their cooperation and enthusiasm. He also mentioned that the bank’s success is due to the vision and leadership of its founders, including Harish ‘Anna’ Zantye, Umesh Zantye, and architect Gurudatt Sanzgiri, who played a significant role in shaping the bank’s growth.
Prabhudesai informed that the central government has recently made amendments to the Banking Regulation Act, which limits the tenure of directors to a maximum of 10 years.
“As a result, some of the existing directors were not eligible to contest the election. However, they have extended their support and best wishes to the new board,” said Prabhudesai.
The new board of directors has appealed to the shareholders to continue their support and cooperation. The chairman and vice-chairman have assured that the bank will strive to maintain its reputation and provide better services to its customers.
