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Wednesday, April 17 2024
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Mangaluru

SCDCC Bank records a profit of Rs 33.65 crore: Dr MN Rajendra Kumar

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Mangaluru: The Dakshina Kannada District Central Co-operative Bank (SCDCC Bank), which is at the forefront of development, has posted a net profit of Rs 33.65 crore for the financial year which ended on March 31, said Dr MN Rajendra Kumar, Chairman of the Bank. At a press conference held today, he said that this is the most recent record in 107 years of bank history.

Operating with modern banking facilities, SCDCC Bank has a total of 105 branches in urban and rural areas with a total business of Rs 10,100.30 crore in the last financial year. There is an increase of 19.30 per cent over last year’s total business. The bank has a business value of Rs 11000 crore for the year 2021-22. The bank has also collected a total deposit of Rs 4948.34 crore, an increase of 17.65 per cent over last year.

Dr Rajendra said that the bank also paid an advance of Rs.3712.67 crore for the corporation’s recession. Rs. 1596.04 crores as short-term loan for agriculture and agriculture development, Rs. 129.34 crores as medium-term loan was also paid. The total outlay for agriculture and non-agricultural loans is Rs 5151.96 crore, he said.

The bank had a record 100 per cent repayment of all agricultural loans issued during the year. He said that the achievement of this achievement is a national record for the last 26 years. The share capital of these companies will be Rs 263.43 crore. This is an increase of 27.24 per cent over last year. The working capital stood at Rs 7212.71 crore, an increase of 18.04 per cent over last year.

 He also won the prestigious “Banco Blue Ribbon Award” this year for the Bank’s overall achievement, also having won the Bank’s 19 Apex Bank Awards and 17 Nabard Prizes in consecutive years and the National FCBA Award for two consecutive years. In addition, the Bank is the number one in the state in the implementation of self-help groups. The bank has a total of 32700 groups. Mangala Kisan Credit Card Loan has been distributed to 132832 farmers in the district. Personal Accident Insurance Facility is provided to 87620 Kisan Credit Card holders, he said.

He said that the Bank is contemplating on implementing the Inter Bank Mobile Payment System Scheme. He also stated that internet banking service to be launched soon. The bank plans to open 10 new branches over the next three years.

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