The proud journey of The Textile Co-operative Bank of Surat Ltd. (or, The Texco Bank as it is more popularly known) commenced as an urban co-operative bank with its establishment on 05th February, 1996. The Bank has ushered into its 21st year of successful existence.
We, The Textile Co-operative Bank of Surat Ltd. (more popularly known as The Texco Bank Ltd.), embarked upon our proud establishment on 5th February, 1996 on the 5th floor of Textile Tower Market in the City’s busy commercial hub – the textile market area, Ring Road, Surat. It was inaugurated at the holy hands of Sadhu Swayam Prakash Das of Shree Aksar Pursottam Swaminarayan Mandir Foundation, Bochasan, North Gujarat. The ceremony was presided over by Sh. Fakirbhai Chauhan, the then Mayor and Sh. R.N. Gandhi,(IAS), Collector, was invited as Guest of Honour.
The address of the Bank’s Registered Office is 531-534, Textile Tower, Ring Road, Surat - 395 002. Its founder Chairman is Sheth Shri Gajanand Malpani, with a discerning vision to provide a golden and profitable market to the textile industry of Surat District and help the small and medium shop-keepers start and manage their businesses on their own acumen and on the Bank’s trade finance.
The Texco Bank, in the initial stage started with only a few share-holders and Rs.37.33 lac share capital. As on 31st March 2016 the number of share-holders has crossed 4451 and share-capital is Rs.1.70 crore and total deposits of Rs.79.92 crore and advances of Rs. 22.81crore.
The Bank has in total 04 well-equipped and fully computerised branches and an administrative office in Surat city as on date.
The Bank started with only 16 employees but as on today it has a strong force of 57 employees. It provides up-to-date training to all employees of different levels. It is one of the leading banks in South Gujarat. It has adopted the modern banking technology, like complete core banking facilities to its customers. It may be noted that the Core Banking Solution was completed in just 3 months period which included 04 branches and the Admin Office, which showed our positive approach and proof of determination of the Bank’s staff. With CBS facilities all the Bank’s customers now can avail all kinds of banking services and facilities from any branch.
The Bank considers its customers as valued customers and provides top level banking services which has made the bank popular. Due to this the Bank’s deposits have always increased year on year. The Country’s economic changes, inflation, share market dips, yield on high interest rates in mutual funds have very little effect on the Bank’s financials which can be seen from the following numerical charts.
Currently the Bank provides all kinds of banking facilities including CBS,E-statements, SMS alerts, RTGS/NEFT, E-payments ,ATMs etc.