Khopoli, Raigad, 24 October 2026: Kokan Mercantile Co-op Bank Ltd. inaugurated its new branch premises in Khopoli on Saturday. The ceremony was led by Hon. Chairman Asif Dadan and marked another milestone in the bank's growth and its ambition to attain scheduled bank status.
The event was attended by Vice Chairman Asgar Dabir and directors Altaf Qazi, Bashir Murtuza, Naved Roghey, Tasneem Qazi, Fareeda Qazi, Milind Kadlak, Maqbool Surve, Sajid Adhikari, Dilip Mujawar, Sameer Mulla and Farhan Walele. External directors Abdul Kadar Muqadam, Anis Kazi and Imran Kazi were present, along with CEO Akbar Kondkari, Deputy General Manager Abdus Sattar Shaikh and Noor Mohammad Muqadam. Branch managers, officers, employees and several prominent personalities also joined the celebration.
Sameer Mulla, Chairman of the Planning and Development Committee, Rafiq Shaikh, Head of the Planning and Development Department, and Rafiq Haju, Branch Manager, were credited with ensuring the smooth organisation of the inauguration.
Strong Financial Performance Highlighted
Addressing the gathering, Chairman Asif Dadan announced that the bank has achieved deposits of approximately ₹915 crore and a total mixed business of ₹1,200 crore. He said the bank had absorbed its accumulated losses and recorded a profit of over ₹7 crore in the previous financial year.
The Chairman acknowledged the challenges the institution faced under the Supervisory Action Framework (SAF). He credited the turnaround to the combined efforts of the directors, the CEO, Deputy General Managers, officers, employees and customers. He also noted the bank's recognition as the Best Banker in the Tier-II category and expressed confidence in its progress towards scheduled bank status.
Appeal to Customers
The Chairman thanked customers and well-wishers for their continued trust and urged them to stay associated with the bank as it works towards its future goals. He also thanked guests who travelled about three hours from Mumbai to attend the event.
The new premises reflect the bank's commitment to customer convenience, a stronger regional presence and wider banking services. With the support of its management, employees and customers, the bank aims to move closer to achieving scheduled bank status.
