Shri.Narendrakumar A. Baldota

Banking Industry is experiencing a change impacting a wide range of issues on customer centricity, technological accomplishments, higher profitability, workforce retention and changing mindsets of people in perceiving their banking needs. The need to give personalized, speedy and cost effective services is pushing all banks to reorient services and innovate the business of banking.

Amidst all the above complex changes, my dear Members and Shareholders, I am pleased to announce that your Bank has declared a 15% dividend again this year at the AGM held on 12th August 2011. I must express my profound gratitude to all of you for your steadfast confidence reposed in your Bank throughout the years.

Your Bank added one more branch to its fold on 13th August 2011 by opening a full fledged and 2nd E-Lobby branch at Dombivali (E). Here again, banking needs of our customers have been prioritized and technology enabled services are provided 24 X 7. Through just seven machines at the E-Lobby, basic banking transactions like cash deposit, cheque deposit, cash withdrawal, passbook updation, statement printing, payment of utility bills etc. can be carried out at any time of the day so that our customers do not have to wait in long queues during working hours. I would like to add that Your Bank plans to open such E-Lobby areas at existing branches wherever possible, for the benefit of our customers.

Your Bank has introduced attractive schemes not only for depositors but also for people who want to avail financial assistance. 'Greater Bank Gold Loan' is one such product that is priced and positioned competitively for people who need money instantly and at short notice. The procedure is simple, documentation minimal and disbursal quick through branches. All branches have been provided with ' Gold Purity Analyser' machines for easy processing and disbursal of loan. The gold loan is offered on daily reducing balance at 13% for those who require a loan amount of Rs. 1 lakh and above and at 14% to those who require a loan below Rs. 1 lakh. As on date, 'Greater Bank Gold Loan' is priced better than similar other products available in the market Even the processing fee has been waived for customer's benefit.

As the next update will be for the third quarter ending December 2011, let me take this opportunity to wish all Members, Shareholders, Readers and Staff a happy festive seasons filled with celebration and happiness.