Bharat Co-operative Bank

A light for the million….. A source for the needy

A light for the million….. A source for the needy

The Bharat Co-operative Bank (Mumbai) Ltd has a record commendable professionalism in managing its consistently rising business. Having built a brand on trust, service quality and innovation, the management of the bank seems to have determined to take its position to an enviable new level. Its growth over the years, clean record of four-decade long operation, excellent quality asset portfolio and consistent focus on social banking without any compromise of prudence reflect the vision of the professional board, a combination of experts from diverse fields, headed by Shri. Jaya C. Suvarna, Chairman of the Bank

In another three months, The Bharat Co-operative Bank (Mumbai) Ltd, which is widely known as “Bharat Bank” will complete 39 years of growth that has been steadfast, solid and amazing. In a city that is known as financial capital of India with most of the country's banking sharks trying hard to inch up their business in both uptowns and downtowns, steady growth of a co-operative bank like Bharat Bank is nothing less than an admirable achievement. That is also an excellent case-case study of how a co-operative bank too can find, build and strengthen an enviable market position in an elite business centre where competition has always been stiff.Now it is expanding beyond its traditional base. In Mumbai’s thriving banking market, now, Bharat Bank is a big name of trust, service, innovation and professionalism.

Began modestly in 1977, procuring banking license from Reserve Bank of India a year later, it is today one of the largest co-operative banks in the country in terms of overall business combination and profitability. Last year, its net profit crossed Rs 112 crore, that was roughly close to its share capital base. Compared to its overall business size, the profit of Bharat Bank makes it one of the most efficient banks with sound operational systems and process in place. Its investment portfolio as at the end of March 2015 was over Rs 2691 crore with large portion of this asset being invested in government securities. This portfolio generated a treasury profit of close to Rs 32 crore, that was 81 per cent higher than the previous year’s treasury profit.

Bharat Bank concentrates on providing personalized services to the customer.  Therefore, we are aptly known as “One of India’s most customer friendly banks”.  The Bank now known for its service, clean image and young team of personnel has carved its own niche as one of the best Banks in the Metropolis having a customer base of more than 12 lacs.

As the business is growing and the bank is expanding its revenue streams, sustainability of business growth and profitability is not a concern. In fact, the bank is in better position to maintain the growth trajectory, control the cost through the intervention of technologies and through building capability to handle larger volume of business, as the days ahead will see opening of more branches and generating more business through new generation products – on both asset and liability fronts. By the end of the financial year 2017-18, the bank expects its business to cross Rs 25,000 crore and branch network to be around 125 across the country, says Shri C R Mulky, M.D. & C.E.O of the Bank.

It is one bank whose performance has always been commendably consistent. Shareholders are happier and would be so in future too even under a worse industry scenario as the bank has enough wherewithal to support its bottom line through treasury and non-core business. Customers feel safer and excited about the way it serves them with wonderful products designed by the team of the bank itself and offered through special arrangements. In every operational yardstick, Bharat Bank is also on par with any of the new generation private banks in the country, be it in terms of delivery of service on technology platform, offering comforts to customers, product innovation and overall management. The bank has, in its basket a broad range of specialized products for different class of customers, who include large corporate, micro, small and medium enterprises (MSMEs), non-resident Indians and the broad category of retail customers. An average customer of the bank does not need to look elsewhere for any product or comfort. Through expansion of network in fast phase and repaid proliferation of electronic delivery channels the bank is ensuring better comforts to its customers across all generations, besides making itself technology savvier. 

As the management of the bank rightly believes, only the process of constant technological up gradation can keep up a bank in its race for any position in the market. Its team works accordingly.  With core banking solution (CBS), Finnacle of Infosys, already in service, the bank could improve the level of customer service to a great degree. Now it is working on improving the self service banking not only through adding to its ATM network, but also through rolling out new Apps and provisions through necessary arrangements with technology partners. Earlier this month, the bank entered into a tie-up with a Kochi-based technology company, MobMe for mobile payment App named Chillr. The App has highly exciting features for the comforts of customers. This allows the bank’s customers to transfer money instantly to any contact on their phonebook. The receiver instantly gets money in his/her bank account when the sender chooses the target recipient from his Chillr contacts and enters the amount and M-pin provided by the bank. This hassle free system does not require prior filling up of any pre-paid wallet and saving passwords.

This is the first of its kind application that is directly linked to customers’ bank account wherein the user can transfer money to any person in India upon downloading of the Apps and necessary registration. This wonderful application has already linked half a million bank accounts and reported more than 3.1 million transactions.

Recently the bank launched a non-conventional service – a medical check-up at a huge discount to its customer through a medical camp organized in collaboration with SRL Diagnostics. On the other side, it has a range of other banking service products for institutions and establishments that virtually reduce hassles of the customer establishments by way of comprehensive support packages. The Premium Society Account for co-operative societies and commercial premises is one of the best examples. That is virtually a relax account taking away the tedious works of collecting, depositing, keeping track with payments, making bill summary, etc from the shoulders of the respective office bearers. The bank has designed similarly innovative loan and deposit products also as per the needs of the customers with enough comfort and flexibility. The Flexi Fixed Deposit, Bharat Champs Savings Bank Account for Children, the Asset Backed Loan for a period of up to 10 years are best instances of the bank’s customer friendly products.

The innovative strategies and consistent focus on building a basket of products helped the bank grow profitably. Net profit in five years grew nearly five folds, indicating the fact that the average productivity at branch level has been growing at a spectacular phase. Technology adoption helped it smoothly handle fast growing business volume. This was evident from the rise in number of people as its branches doubled and business tripled during the last five years. For the period ahead, as it is planning to expand its branch network further, the bank is expected to boost its productivity further, making it more efficient and powerful for better profitability.That has made its position not only invulnerable to competition and economic slowdown but also enviable. Today, its treasury profit alone is more than sufficient to satisfy its shareholders.

The bank also has full-fledged Forex Operation. Bharat Bank is also a corporate agent for insurance business of both life and general Insurance. Accordingly, it processes and issues LIC policies on life under attractive schemes from Life Insurance Corporation of India (LIC) and general insurance policies covering mediclaim, ownership premises, stock, furniture, fixtures and other valuables through New India Assurance Co. Ltd.

With the view to promote the social cause initiated by our Prime Minister, Bank had tied up with Life Insurance Corporation of India for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) & New India Assurance Limited for Pradhan Mantri Suraksha Bima Yojana (PMSBY). Till date Bank has enrolled 24,127customers under PMJJBY & 34,673 Customers under PMSBY.

Indeed, the vision set by the board headed by Mr Jaya C Suvarna as Chairman has transformed the bank, says Mr C.R. Mulky, Managing Director and Chief Executive Officer of the bank. “Our performance over the years speaks for us,” he points out. Bharat Bank has an admirable Board of Directors, highly professional and knowledgeable with expertise in diverse fields. That is another major strength, MrMulky adds while dwelling on the significant progress that the bank has been showing over the years. “The customers are loyal and they continue to appreciate our personalized services. That is also a motivating factor,” he avers.  

Though behind every co-operative bank, by legacy, there is a charity connotation, Bharat Bank has a special privilege of having a Charitable institution itself as original sponsor. Naturally, having a charitable institution behind, the bank was built on an ethos of benevolence to promote social justice and welfare through taking the banking business to the masses, especially people of middle and lower income strata to help them improve their standard of living. Today, the customers belonging to these classes, many of them could grow with the support of the bank, enjoy highly sophisticated banking service, which at one point of time could be dreamt only by elite customers of class banking. The bank has around 12 million customers and large numbers of them make use of electronic platform for transactions and buying products. Many of the customers have been staying with it over the years, fully contented with its services. Trust and quality service are two of many factors the bank is known for, M.D & CEO asserts.

Time has changed, but Bharat Bank has changed faster to maintain its position at the forefront of the industry. It grew nearly three-fold in business over the last five years, while number of branches doubled. Last calendar year i.e.2015 alone the bank opened 25 branches, of which 20 were in Maharashtra, two in Karnataka and three in Gujarat. Currently the bank has 87 branches and 85 ATMs across three States. In the next financial year, the bank’s branch network is expected to cross 100-mark. 

Bharat Bank has superior quality assets in its book, despite the fact that the banking industry is passing through a phase of massive repayment delinquency. “But we are happy with our asset quality and will continue to keep close watch on it without being over-confident,” says MrMulky. As at the end of March 2015, the bank’s non-performing asset at the gross level stood at 1.89 per cent while net level NPA stood at 0.60 per cent – the best in the industry. That was mainly because of its prudent due diligent process and also for its timely recovery actions through appropriate methods.

As Shri.Mulky points out, Bharat Bank has a well-trained employee base. Among many distinctions, what makes the bank different from other co-operative banks is its keen focus on human resources management and re-skilling of the talents. That makes the workforce competent enough to handle new challenges. The average age of its employees is 30-35 years, which also make it a tech-savvy young generation bank. The management is clearly aware of its position in a service industry that is transforming itself every passing day through innovation and upgrading skill-sets. The way the banking business has changed no other service sector has witnessed, he opines. That has brought a new challenge to banking institutions as they are required to update their skill-sets and enhance employees’ knowledge of new products and customer demands, besides keeping the institution profitable. Bharat Bank, in typical new generation private banking style, has been focusing on improving HR quality and providing extensive training to the employees in core areas of banking through a combination of in-house and external training sources.



During the Financial Year 2015-16, the Bank received the following awards and recognitions for meritorious performances in various fields.  

The Padmabhushan K. VasantdadaPatil Best Bank Award, 2014 – 15 by The Maharashtra State Co -Operative Bank’s Association

Avies Publication has awarded the Bank1st prize “BancoPuruskar- 2015” for the best performance for the financial year 2014-15 in the category of Banks having deposits of Rs. 5001 crore and above

The Brihanmumbai Nagari Sahakari Banks Association Ltd., Mumbai awarded the Bank 1st prize for the Annual Report and overall best performance for the Financial Year 2013-2014 in the category of Banks having deposits of Rs. 1500 crore and above.


The Mumbai District Central Co-operative Bank Ltd.Mumbai awarded the "Mumbai Bank Sahakar Gaurav Puruskar"

Bank has received in all 45 awards in its 38 years of services

The bank has around 12 lakhs customers and large numbers of them make use of electronic platform for transactions and buying products. Many of the customers have been staying with it over the years, fully contented with its services. Trust and quality service are two of many factors the bank is known for.

Mr. C. R Mulky

Managing Director and CEO



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