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CEO's Report - 2014-15

In recent years, financial services companies around the world have experienced several different challenges. We are proud of our successful track record of balancing the interests of our shareholders, customers, employees and the communities in which we live and work. Our vision statement PROSPERITY THROUGH INTEGRITY has always been the driving force and the foundation of ethical behavior in our business. This financial strengthen sure that we are able to fulfill our responsibility of keeping our customers financial assets safe. Our vision also allows us to prudently lend to individuals as well as businesses. By doing so, we create jobs, drive economic opportunity and most importantly help our customers to be financially better off.

The Board

Guardian Bank would not have achieved its profit of 1.46 crores without the skillful advice given by its Board of Directors. The RBI and other bankers continue to appreciate the professionalism of the Board in managing the Bank effectively. The management and staff are indebted to the Board for their valuable and timely advice. The Board has always worked with the interest of our bank and our members in sharp focus. The directors have always been approachable for clarification, support and guidance. They have spent valuable time to frame policies that comply with guidelines of the RBI that benefit the bank.

Our Human Assets

Guardian Bank acknowledges its staff as key drivers in its achievements. Our staff comprises of young, energetic mind swilling to learn and eager to serve. We believe investing in our people is critical to the health of our Balance Sheet. The training methods adopted have helped sculpt minds, and an evolved appraisal system has kept the human ingredient measurable. We have always stressed our objective of producing right thinking professionals capable of competing with the best in the industry.

Training and Development

Guardian Bank believes in leveraging the talents and abilities of its staff in its various departments. The Bank has used the knowledge of eminent subject matter experts to impart training and helped them to implement the knowledge gained.The bank has also been prudent in sending staff from various departments to off-site knowledge transfer programs dealing function specific banking topics such as recovery, fraud detection, antimoney laundering, risk management, customer service, know-your­customer modules, etc..In-house faculty now works at imparting training that deals with softer issues such as time management, leadership, problem solving, interpersonal skills, communication, quality, ecision making, team work etc. Our staff are mentored to implement their learning and are provided the atmosphere in which to script their own growth.Talent is identified and deployed at the appropriate time to ensure a whole some experience for the employee.

Growth and Technology

In our continued endeavour to reach out to our members, the year 2014-15 saw the inauguration of another branch in the TC Palya area near the St. Anthony's Church. We have been able to help many schools with fee collection so that the school administration does not have to take up this laborious task. We have also been able to use the advances in technology to upgrade our banking software at our Headquarters,and simulating the process at our branches on a realtime basis. The year ahead holds the promise of greater reach by the opening of new branches. We were also able to install our own ATM at the main branch.

Inspection And Audit

Inspections and audits are essential to any bank, Guardian Bank being no exception.On a monthly basis the Concurrent Auditor presents to the Board a report on the audited books of accounts. The Statutory Audit is conducted at the end of the financial year and the finalized accounts are placed before the General Body and sent to the Reserve Bank of India as well. Our Bank was classified as Grade 1 and lauded for its professional manner in conducting its affairs. The RBI Officials also noted the positive financial results, the control the Bank held on its NPA and the sincerity of our staff in doing a job well.

Results

Guardian Bank ends the financial year 2014-15 with a profit of Rs. 146 lakhs, clearly an achievement. For this, the credit goes to the wisdom of the Board of Directors and the efforts of the staff.Our Share Capital stands at Rs. 377 lakhs,our Reserves at Rs. 1452 lakhs, and our total capital funds as of 31st March 2015 stand at Rs. 1829 lakhs, The Capital to Risk Assets Ratio of the Bank is 24% as against a statutory minimum of 9%.Our deposits stand at Rs. 8407 lakhs, while total advances amounted to Rs. 5053 lakhs.

 

We Are Grateful

In conclusion, I must not forget to acknowledge the presence of God at every step of our journey through this year, and the strength and wisdom He so lovingly show eredonus to helpus succeed. Our gratitude to his Grace Most Rev Dr.Bernard Moras for his encouragement and support in enabling our bank to grow. The bank is grateful to the Board of Directors for their support and encouragement. We acknowledge you, dear Members, for being our motivation.We convey our sincere gratitude to you for your valued support in using our services and your role in our growth. My sincere and heartfelt gratitude goes to every employee of Guardian Bank who has truly belonged and worked with integrity to script our success.