Year |
Achievements |
1994 |
Bank was incorporated under the chairmanship of Mr. Gokul Bakshi. Bank commenced business from a rented location. Retail banking was the initial activity of the bank. Focus of strategy was stability, market penetration, resources build up and steady growth. |
1995 |
Product development strategy initiated. Bank started financing small scale industries as recommended by RBI from Goiporia Committee and Narsimha committee. |
1996 |
“Customer is a king” approach initiated concept of information technology were used like TELE Banking/Remote Banking with the advent of computerized operations. Offtime banking concept were introduced i.e. evening 6:00 p.m. to 8:00 p.m. were provided for bank’s retail customer to reduce their Cash risk and continue as on date. |
1997 |
Branch Expansion Strategy initiated and bank started its first branch Bhulka Bhavan Branch at Adajan in August 1997 with in the very next month i.e. Sept.97 bank had started another Branch at Katargam GIDC. |
1998 |
Branch Expansion had continued during the year and 3rd branch was opened in June 98 at M.G.Road, 4th branch was opened in oct-98 at new sardar market & 5th branch was opened in Dec-98 at bhatar char rasta. |
1999 |
Bank has taken permission from RBI to accept the NRI deposits. Introducing “smart cash” – a smart alternative of cash named as “prime purse”. It is useful at 143 places in the entire Surat area and response encouraging received from valuable class of people of Surat. |
2000 |
Bank started with opening of a new millennium branch at navsari (millennium branch in feb.2000 first bank in south Gujarat to open its out city branch. Bank has opened another outstation branch at Bharuch in sep-2000, starting to open D-MAT a/c in November 2000 |
2004 |
Prime Completed its 10th anniversary, and introduced schemes like Prime Sarasvatee, Prime Health Card and Prime Citizen for its valued customers |
2005 |
Prime joined its hands with Worlds Number 5 raked Insurance Provider named AVIVA Insurance, providing Life Insurance and with IFFCO-TOKIO for providing Marine Insurance and General Insurance to its customers. |
2006 |
Introduced Schemes like Loan for Gold in partnership with ICICI Bank. Also opened a Bill Collection Centre at its Bharuch Branch for collecting Gas Bills of Gujarat Gas Co. Ltd. To make payment system qicker RBI has launched RTGS scheme for scheduled bank, Prime has joined hands with Kalupur Commercial Bank to help its customers to have the advantages of RTGS.
Prime has done a remarkable job as Baroda District Industrial Co-operative Bank’s merger with Prime Co-operative Bank, placing its management on its 7 branches, which has increased area of its working upto Chotta Udaipur in Gujarat just 72 km away from the MP border.
Prime started the process of Franking on 21st Nov. at Surat & Baroda, whire customers can bring in their blank papers and convert them to a stamp paper without paying additional fees. |
| 2007 |
Prime has done a remarkable job as Adajan Nagrik Co-Op. Bank's merger with Prime Co-operative Bank, placing its management on it, which has increased area of its working in Surat city.
Prime Bank has started business of Mutual Funds on a referral basis. Bank has tied with Principal PNB Mutual Fund, UTI, Benchmark, ICICI Prudential, Reliance, SBI, Lotus, Birla, Kotak, Sundaram ETC. |
2008 |
Prime Bank has received Category-2 License to carry out Foreign Exchange Business
Prime Bank had done Hattrick in Merger of week Banks."
-In June 2006 Vadodara's 50 year old bank with its 7
branches, 'Baroda Industrial Co-Op. Bank.'
-In June 2007 Surat's 'Adajan Nagrik Co-Op. Bank' and
-In June 2008 Nadiad's 38 year old bank with its 3 branches 'United Mercantile Co-Op. Bank.
|
| 2009 |
Tie-up with Paul Merchants for foreign inward remittance facility
through Western Union Money Transfer.
Two branches opened on 1-06-2009 – one at Bodeli dist. Bodeli and another
one at Vyara Dist. Tapi.
Fourth merger taken place on 22-09-09. Sanand Urban Co-op. Bank Ltd.,
Sanand taken into merger. |
