History
The Origin
We, at Zoroastrian Bank, salute the foresight of our Founder Sir Hormusjee Cowasjee Dinshaw Adenwalla, who founded the Bank on 17th June, 1927.Sir Hormusjee Cowasjee Dinshaw born on 4' April, 1857 and was the eldest son of Cowasjee Dinshaw. He was educated at Elphinstone College and King's College, London and started life as an apprentice at James Barber and Son, London and then at Leopold Bin Fils & Gans, Paris.
He joined his father's business in 1879 and expanded the same by establishing agency links at London, Paris, Marseilles, Geneva, Trieste, Amsterdam, Hamburg, New York and Colombo.
He was popularly known as 'the Maker of Modern Aden' and his family built an agiary and a dokhma at Aden and an agiary at Zanzibar and at Lonavala.
He had the honour of presenting on behalf of the residents of Aden and address to His Majestic King George V in 1911.
Sir Hormusjee represented the Aden Chamber of Commerce at the Fifth International Congress held at Boston in 1911 and he was a Trustee of Aden Port. He was a Vice Consul for Spain in 1891 and Consul for Portugal and Austria in Aden.
Sir Hormusjee was conferred the Order of the British Empire in 1918 and was Knighted in 1922. He was elected as a Trustee of the Bombay Parsee Punchayat in 1931 and was the President of the Parsee Federal Council and Jarthosti Komna Labh Sachavnari Mandali.
Sir Hormusjee was known as a Captain of Industry and was on the Board of several mills. He was a philanthropist having firm faith in our religion, its traditions and customs.
In appreciation of his services, the Bombay Municipal Corporation named a road as Sir Hormusjee Adenwalla Road in Dadar Parsee Colony. He passed away at the age of 82 on 1' August, 1939.
We, at Zoroastrian Bank carry fond memories of our founder and dedicate ourselves towards realizing his dreams to make Zoroastrian Bank a name to reckon with in the Banking Industry. .
The Zoroastrian Co-operative Bank Ltd. Marches On
In November 2013, The Zoroastrian Co-operative Bank Ltd. achieved the status of a Multi- State Scheduled Co-operative Bank and its area of operations now stands extended to the whole of Surat District, Bharuch, Baroda, Anand, Nadiad, Ahmedabad, Navsari and Valsad in the State of Gujarat. Over the years it has built up a brand loyalty amongst its customers and is known as The Bank that is Big on Tradition and Trust.
Under the stewardship of its Chairperson, ably supported by the illustrious Members on its Board of Directors, the financial results reflected make interesting reading. From humble beginnings in 1927, the Bank maintained a low profile in the community of Bankers until 1993, and since then the Bank has not looked back. The growth in business has been manifold under various heads of business. As on March 31, 2019 business mix stands at Rs.1773.67 Cr. Yearly Profit before Tax (audited) and before provisions stands at Rs.19.59 Cr. Also, Capital adequacy is reflected at 17.56% as against the 9% requirement by Reserve Bank of India. A noteworthy aspect of the Bank's financial results is that its net non-performing assets are zero unlike the adverse trend in the banking industry. The Bank continues its policy of carefully selecting its advances with good quality assets. Besides offering all the retail loan products to individuals, the Bank is very aggressive on Corporate Lending & has reputed Corporate clients in diverse fields of manufacturing, shipping, services, etc.
Under the stewardship of its Chairperson, ably supported by the illustrious Members on its Board of Directors, the financial results reflected make interesting reading. From humble beginnings in 1927, the Bank maintained a low profile in the community of Bankers until 1993, and since then the Bank has not looked back. The growth in business has been manifold under various heads of business. As on March 31, 2019 business mix stands at Rs.1773.67 Cr. Yearly Profit before Tax (audited) and before provisions stands at Rs.19.59 Cr. Also, Capital adequacy is reflected at 17.56% as against the 9% requirement by Reserve Bank of India. A noteworthy aspect of the Bank's financial results is that its net non-performing assets are zero unlike the adverse trend in the banking industry. The Bank continues its policy of carefully selecting its advances with good quality assets. Besides offering all the retail loan products to individuals, the Bank is very aggressive on Corporate Lending & has reputed Corporate clients in diverse fields of manufacturing, shipping, services, etc.
New Services and Technological Progress
The Bank has successfully launched Internet Banking Transactional facility
with effect from 1st October, 2018. Apart from Core Banking Solutions
(CBS) Technology offering any Branch Banking Services to its customers
since past several years, the Bank also offers RuPay Debit Cards (ATM, POS
& Ecom transactions)and CKYC services to its valued customers.
The Bank's interactive website namely www.zoroastrianbank.com offers easy accessibility of various products & Services for its customers.
The Bank offers services like RTGS, NEFT, ECS, Speed Clearing, NACH etc. The Bank has taken Corporate Agency of Max Life Insurance Ltd and Bajaj Alliance Insurance Ltd and offers all types of life and non-life insurance products.
The Bank's interactive website namely www.zoroastrianbank.com offers easy accessibility of various products & Services for its customers.
The Bank offers services like RTGS, NEFT, ECS, Speed Clearing, NACH etc. The Bank has taken Corporate Agency of Max Life Insurance Ltd and Bajaj Alliance Insurance Ltd and offers all types of life and non-life insurance products.
A Way Forward
Besides investing in Human resources, the Bank proposes to further invest in
technology to tap young generation clientele enabling them to avail next
generation Banking facilities by launching Mobile Banking facility for all
its valued customers. The Bank has a strong loyal customer base which it
continues to build upon year on year.
