It is with immense pride, humility, and a deep sense of responsibility that I address you as the Chairman of Contai Co-operative Bank Ltd. After a prolonged interlude since 5^th February 2022, when the Bank operated without an elected Board, it gives me great satisfaction to share that the Bank emerged stronger through this period and reinstated democratic governance on 13^th February 2025. With the newly elected Board now in place, we are prepared to usher in a new era of dynamic leadership, forward-looking reforms, and inclusive, community-rooted banking.

The phase from February 2022 to February 2025 was one of regulatory restraint and institutional limitation. Yet, through the collective determination of the Bank’s management, officers, and staff, we not only sustained operations but pursued consistent growth with remarkable steadiness. The journey during these years reflects the true spirit of co-operation, accountability, and commitment to excellence.

The numbers speak for themselves — as shown in the financial summary below, the Bank not only preserved financial stability but also laid the groundwork for our current transformation:

Amid this period, several landmark initiatives were realised. The Bank’s upgradation from Tier-II to Tier-III UCB status highlighted our growing institutional robustness. Key digital services including Mobile Banking, IMPS, and UPI were launched — not merely as value additions, but as essential tools to enable a secure, real-time and seamless banking experience. These steps demonstrated our unwavering commitment to embracing innovation, even in challenging circumstances.

The efforts and resilience shown by our internal teams have earned us external validation as well. The Bank was honoured with two prestigious awards in 2024:

1. FCBA Awards 2024 for Best Credit Initiative in Medium Category UCB, and
2. BANCO Blue Ribbon Award 2024 for Outstanding Achievement in Deposit Mobilisation (₹1250 Cr – ₹1500 Cr category).

These accolades are a testament to the professionalism, dedication, and community-focus that define the ethos of Contai Co-operative Bank Ltd.

With the newly formed Board now steering our journey, we are aligning our strategic priorities with long-term value creation. Our mission is to uphold the co-operative spirit while providing transparent, accessible, and cutting-edge financial services. Our vision is to evolve into a Scheduled Urban Co-operative Bank, blending tradition with innovation and setting benchmarks in customer satisfaction.

We are enhancing our Core Banking System (CBS), deploying advanced cybersecurity protocols, and broadening our digital ecosystem to integrate customer self-service portals. Projects are underway to augment our ATM network, enable internet banking, and roll out fraud detection mechanisms to ensure the digital safety of our clientele.

At the same time, we are expanding our physical footprint. Plans are being finalised to open new branches and Extension Counters (ECs) in high-potential locations. These new service points will bring our offerings closer to the people and help extend formal banking services to previously underserved areas.

Furthermore, we are vigorously pursuing the acquisition of our own dedicated IFSC— a crucial infrastructural identity that will enable faster interbank settlements, enhance payment efficiency, reduce dependency on third-party sponsor banks, and improve the digital standing of our Bank in the wider financial ecosystem. Having our own IFSC will give our customers more confidence, improve transaction traceability, and strengthen our autonomy in digital banking operations.

To promote financial inclusion and grassroots-level engagement, we have already decided to roll out the Daily Deposit Scheme (DDS) across all branches. This initiative is designed to promote micro-savings and build a culture of financial discipline among customers, especially small traders and daily earners, who prefer doorstep banking and need flexible saving instruments. DDS will enable agents to collect small deposits daily, thus reinforcing our physical and emotional connect with the community.

Additionally, in line with evolving customer needs, we are preparing to launch Insurance Services through Bancassurance. This will allow our customers and shareholders to access life and general insurance products through our branches — offering protection, peace of mind, and financial empowerment under one trusted roof. Bancassurance will open new avenues of convenience for our account holders and deepen their association with the Bank.

Our long-term aspiration remains to become a Scheduled Bank, and to that end, we are rigorously aligning our performance and governance with RBI norms. We are focused on preserving asset quality, strengthening our capital base, and improving overall profitability. Achieving scheduled status will enable us to join interbank networks and offer a more enriched suite of financial services.

I extend my heartfelt gratitude to all our valued customers, dedicated staff, regulators, and well-wishers who stood with us through every phase of our journey. Your trust is our most precious asset. We will continue to build upon the Bank’s strong legacy, embracing technology, transparency, and trust to remain a symbol of co-operative excellence.

Let us move forward — together — with renewed energy, shared vision, and the enduring belief that the Bank belongs to each and every one of us.

Warm regards,
Tarun Kumar Maity
Chairman
Contai Co-operative Bank Ltd.

Long Live the Co-operative Movement.