Press background on Shivalik Mercantile Co-operative Bank Ltd.
Company profile
Incorporated in 1997, Shivalik Mercantile Co-operative Bank (SMCB) commenced its journey as a district level urban cooperative bank (UCB) in September 1998. In 2010, SMCB acquired a loss-making single branch bank in Dhar (Madhya Pradesh) and converted it into a profit-making branch for the bank within a year. This helped the bank in attaining Multi-state Cooperative Bank status, a first for any UCB in the state of Uttar Pradesh. Encouraged with the success of the acquisition, the bank successfully acquired another cooperative bank at Indore (Madhya Pradesh). Over the course of 22 years, the bank has expanded and grown steadily, from a single branch in 1998 to 31 branches currently.
Shivalik Small Finance Bank (SSFB) announced the receipt of a license from Reserve Bank of India (RBI) to carry on banking business as a Small Finance Bank (SFB) in India. This marks the successful completion of the last major step in the transition of Shivalik Mercantile Co-operative Bank (SMCB) t... (more)
Jan 06, 2021 10:37 IST
Shivalik Mercantile Co-operative Bank Ltd.
