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History of Bank



The birth and the spectacular growth of the Bank in a comparatively a small span of 47 years can mainly be attributed to the desire to cater the needs of the business community in general and small traders in particular, encouraging the community to save and channelise these savings for productive purposes leading to economic progress and prosperity of the community. With the passage of time and with gaining of strength and stability, the Bank spread its wings to other areas such as financing of Small Scale Industries, large industries, professionals, individuals for consumer durables, vehicles etc. as also acceptance of deposits from Non-Resident Indians. Our motto is "CUSTOMER CARE" and thereby total customer satisfaction and our goal is to BETTER to BEST.

The Ahmedabad Mercantile Co-op. Bank Ltd., Established in the year 1966, popularly known as "AMCO BANK" started its banking activity under the leadership of Shri Mohanbhai C. Patel with one branch at Relief Road, Ahmedabad in Gujarat State, India.

Expansion accelerated, and branch after branch was added to the family of branches of the Bank, creating a group of 28 branches(including Dehgam,Mumbai and Baroda) most of them operating in their own fully airconditioned premises. With opening of a branch in Mumbai, in Maharashtra, the Bank attained the Multi State Co-op. Society status. The Bank acquired Scheduled Bank status in 1996.

The salient features which helped bank in acquiring a unique position amongst the co-operative banks in Ahmedabad are Service with Smile- Fast & Accurate
Total Mechanisation- Computerisation & Upgradation
Speedy clearing of instruments between Mumbai & Ahmedabad
Free remittance facility between Ahmedabad & Mumbai through issue of D.D. at par
Introduction of services like customer terminal, single window service and telebanking
Acceptance of NRE deposits
Attractive interest rates on term deposits and most competitive interest rates on advances. Special rates for schematic lending.
Issue of out-station drafts & collection of cheques/ bills through agency arrangements with country's leading Banks
Assured safety of deposits
Funds Transfer To and Fro through RTGS and NEFT on same day to any centre
Utility bill pay Service Through bill Desk
Life and General Insurance arrangement with Bajaj Alliance
All branches equipped with CCTV to arrest unwanted incidence