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MESSAGES OF BLESSING

Message from Our Team

Chairman's Message

The success of Guardian Bank despite these uncertain times.

It is my privilege to place before you the Annual report of your bank for the financial year 2019-20.In the month of march this year,just as the bank was poised to post a record increase in profits & growth,India was hit by COVID-19 pandemic resulting in a country wide lockdown.The lockdown has caused unimaginable misery to all but unfortunately the worst affect are the economically weaker sections of the society that your bank serves.

AGM NOTICE

GUARDIAN SOUHARDA SAHAKARI BANK NIYAMITA
Rgn. No. R.S.R.S.A. 30: RGN-015:2001-02 Dtd. 23-07-2001

NOTICE OF THE TWENTY-THIRD ANNUAL GENERAL BODY MEETING
UNDER K.S.S. ACT 1997

The AGM of Guardian Souharda Sahakari Bank Niyamita for the year 2019 – 20 will be held on 5th December 2020 at 4.00 p.m at 139, 2nd floor, Guardian House, Infantry Road, Bangalore – 560001 and at Nava Spoorthi Kendra, Cookson Road, Richards Town, Bangalore – 560084, connecting
both the venues electronically.

Dear Members,

It is my honor to welcome you to the Annual General Meeting of GUARDIAN
SOUHARDA SAHAKARI BANK NIYAMITA for the year 2019-20.

Our Mission

Your bank has been serving the community for over 20 years now with a special focus on the economically weaker sections of our society. We have initiated corporate social responsibility programs based on encouraging volunteers to take up social projects for the benefit of the community. The program is called ‘Guardian Angels’ which aptly describes these volunteers and their efforts. In the past one year the Guardian Angels programme has undertaken 4 programs involving our staff, bank clients, members of the community, clergy, and school children. Every staff member is encouraged to get involved in this social initiative. We believe that the Guardian Angel program will bring us closer to the community we serve, and establish our identity as a bank that cares.

Financial Performance

Your bank has once again ended the year with excellent financial results. The net profit has grown from Rs.1.9 crores to Rs.5.16 crores and the dividend amount has grown from Rs. 48.79 lakhs to Rs.2.44 Crores.The net Non Performing Assets of the bank has significantly reduced to 0.65% for the current financial year. Guardian Bank Board has proposed the appropriation of the net profits as follows:

Reserve Fund 1,29,05,334
Co-operative Education Fund 10,32,427
Sahakara Academy 2,58,107
Operational Reserve 74,85,094
Building Fund 18,71,273
Bonus to Staff at 9% 20,15,035
Dividend at 6% 2,44,24,066
Investment Fluctuation Reserve 16,30,000
Total Net Profit 5,16,21,336

Management

These excellent financial results would not be possible without the astute leadership of the senior management team led by our CEO Mrs. Sharon Joseph, CFO Mr-Prathap George, and General Manager of Operations Mrs. Nileema Jasmine. This team is nurturing a larger team of Managers and Assistant Managers to be leaders of tomorrow. At Guardian Bank, we believe that knowledge must be shared and every employee is encouraged to teach his subordinates. There is a constant quest for innovation and creativity towards improving efficiency and enhancing the customer experience.

Future Prospects

Your bank has received the No-Objection Certificate from the Registrar of Co-operative Societies, Karnataka, thus paving the way for our application to the Reserve Bank of India for transition to a Small Finance Bank.

Guardian Bank is in the process of implementing a new technology platform that will enable us to offer state-of-the-art Internet & mobile banking services on par with any other bank. We are expanding our client base with a special focus on the youth. Your bank is sharpening its capability in domains such as education, health care, and microfinance, where it already has considerable experience.

Acknowledgement

We are deeply grateful to every member of our staff who, despite personal risk of infection continued to work towards maintaining the banking operations throughout the lockdown, as it was an essential service for the community. Their courage and dedication must be appreciated. We thank all our members and well wishers for their continued support through the years. We specially thank our community leaders, the Archbishop, Bishops, Nuns, Priests and Pastors for their support and prayers that has made our success possible. And finally | give thanks to the Almighty for standing by Guardian Bankand helping us through every challenge.