CHENNAI : Repco bank celebrated its 50th year foundation day on Saturday during which the bank launched a new loan scheme for its retail customers. As part of its golden jubilee celebrations, the bank launched its first Facebook page and a souvenir to mark five decades of service. “By having a presence on social media, we will be able to connect with our 11 lakh plus customers across the country and also serve them better. Also, the newly launched `50 lakh plus loan scheme will have lower monthly EMI and 100 per cent processing fee waiver,” said R S Isabelle, managing director of the bank.
Established in 1969, Repco bank falls under the administration of Freedom Fighters and Rehabilitation Division of the Ministry of Home Affairs. It was initially founded to cater to repatriates rehabilitated from Burma, Sri Lanka and Vietnam.
Principal Secretary to Public and Rehabilitation Department, P Senthil Kumar, was the chief guest.
Other guests included TS Krishnamurthy, chairman of Repco Home Finance Ltd; and Dinesh Ponraj, director, Repco Bank. “In the past five decades, our profits after tax amounted to `105 crores and our business mix was more than `14,300 crores. We have also consistently declared 20 per cent dividend,” said Senthil Kumar, who is also the chairman of Repco bank.