Inauguration Of Mizoram Cooperative Apex Bank Keifang Branch Building

Saitual : The Mizoram Cooperative Apex Bank (MCAB) Keifang Branch building was officially inaugurated today by Pu Lalnunsanga, Chairman of MCAB, in a ceremony held at VFDC Hall, Keifang.

During the event, MCAB Chairman Pu Lalnunsanga expressed gratitude to all attendees and emphasized that significant effort and planning went into making this inauguration possible. He noted that MCAB currently operates 30 branches across Mizoram, with plans underway to open seven new branches in Chawlhmun, Vairengte, W. Phaileng, Darlawn, Falkawn, Khualleng, and Chawngte.

The Chairman highlighted that Apex Bank has substantial financial resources and continues to expand despite facing challenges. He encouraged local youth to consider employment opportunities at the bank, urging them to prepare for upcoming recruitment exams. He further stated that the bank aims to enhance economic opportunities for the community by providing financial support and strengthening partnerships with the government.

The Keifang Branch building inauguration was presided over by Pu H. Lalhmangaihzuala, Manager of Keifang Branch, with Rev. David Lalrinmawia Sailo, Keifang Bial Pastor, leading the dedication ceremony. A building report was presented by Pu H. Lalhmangaihzuala, followed by speeches from Pu C. Lalnunsanga (Chairman, MCAB Ltd.), Pu C. Lalchawimawia (Chairman, MCSP), Pu Lalbiakthanga (Chairman, Joint VC, Keifang), and Pu Lalrosiama (Chairman, SDCU). Pu C. Lalhmunsiama delivered the vote of thanks.

The Apex Bank branch in Keifang has been operational since July 21, 2020, and after five years, it has now moved into its own permanent building, officially inaugurated on March 19, 2025. The new branch building, constructed on land provided by Keifang village, features a spacious banking hall, manager and staff quarters, and an SDCU office. The total cost of construction was Rs. 235.42 lakhs.

In addition, the Apex Bank has also established an office for the Saitual District Cooperative Union (SDCU) within the newly constructed premises. Pu C. Lalchawimawia, Chairman of MCSP, officially inaugurated the SDCU office during today’s event.

The residents of Keifang and the surrounding Saitual District have shown great support for the bank. Currently, the bank holds deposits of Rs. 22.02 crores and has disbursed loans worth Rs. 10.17 crores, with a CD Ratio of 46.18%.

As of now, Mizoram Cooperative Apex Bank operates 30 branches and 38 ATMs across the state, with a total deposit value of Rs. 1615.5 crores and loans disbursed amounting to Rs. 1212.14 crores. The bank’s Credit-Deposit (CD) Ratio stands at 75.03%.