Forbes World's
Best Banks Survey
Indian Banks' Association (IBA)
Best Technology Bank Award
in the Co-operative Banks'
category
Fortune India 500 list
The Cover Page of this year’s Annual Report is dedicated to the Excellence demonstrated by your Bank.
Excellence is the result of consistent effort and stringent adherence to well-defined processes. It is about approaching each day with renewed energy, determination, dedication, and discipline. At Saraswat Bank, Excellence is a habit, an attitude, a strong belief. It is about striving not only to be our best but about surpassing our achievements, everyday! It is about raising the bar and continuously improving, not resting on past laurels.
That’s what makes your Bank the ‘365’ Bank which serves its customers excellence, all round the clock, all through the year.
Business Excellence
Your Bank’s total business rose from ₹ 67,097 crore as on 31st March, 2021 to ₹ 71,573.02 crore as on 31st March, 2022. Your Bank witnessed an absolute increase in business by ₹ 4,476.02 crore. There has been a significant increase in the advances, deposits, and CASA deposits of your Bank.
Your Bank’s net profit rose to ₹ 275.02 crore as on 31st March, 2022 as against ₹ 270.24 crore as on 31st March, 2021. The Non-Performing Assets (NPAs) position has shown significant improvement, as gross NPAs reduced from 4.58% as on 31st March, 2021 to 3.86% as on 31st March, 2022 while net NPAs reduced from 1.04% as on 31st March, 2021 to 0.65% as on 31st March, 2022.
Service Excellence
Customer-centricity is at the heart of everything that your Bank undertakes. Every employee of your Bank, whether they are customer facing or not, strives consistently to delight customers.Your Bank has one of the best customer relationship departments called CRE (Customer Relationship and Experience), completely dedicated to managing the relationship with customers and enhancing their banking experience. Right from resolving the smallest of queries or concerns, to introducing new initiatives and campaigns to convert dormant customers to active users of its products, the department works tirelessly to enhance the overall banking experience for every customer. Irrespective of the customer’s profile or the extent of engagement, this department persistently tries to improve processes and systems to make your banking a wonderful experience.
Your Bank has made it to the Forbes Best Banks’ Survey for the third year in a row. The publication recognizes banks based on a customer-centric methodology,
carrying out consumer surveys on overall recommendation, satisfaction, and bank ratings across five criteria: Trust, Terms & Conditions, Customer Services, Digital Services, and Financial Advice.
Technology Excellence
You will be happy to know that more than 80% of all the transactions done with your Bank this year were through its digital channels. Your Bank has been a leader in leveraging digital technologies and has been synonymous with several technology innovations including Digital Debit Card, NETC FASTag, Bank on Tab, Fixed Deposit on Tab and Cardless Cash Withdrawal. Your Bank has been at the vanguard in adopting new-age technologies and has been awarded The Best Technology Bank Award in the co-operative banks’ category by the Indian Banks’ Association (IBA) for the sixth year in a row for its innovative ideas, path-breaking initiatives, leadership with managing risk, and implementation of various technologypowered initiatives.
Your Bank’s risk and cybersecurity management initiatives have been excellent; it has also been awarded by IBA for the Best IT Risk & Cyber Security Initiatives for the second consecutive year and has received a special recognition under the ‘Best Cloud Adoption’ category.
Excellence Lauded
Your Bank’s excellence across all key business aspects has been widely recognized and appreciated. 3 consecutive years of recognition by Forbes, 6 consecutive years by the IBA and 5 years in a row by Fortune India 500 bears strong testimony to the relentless pursuit of excellence for 365 days a year that your Bank has constantly pursued.