SCDCCB registers all time record profit

Udupi, Apr 21: South Canara District Central Co-Operative Bank (SCDCCB) has registered an all time record profit of Rs 5.42 crore with a record turnover business of Rs 1014.88 crore during 2006-07.

Briefing newsmen here about the bank's performance here today, Bank President M N Rajendrakumar, who is also the chairman of Karnataka Apex Bank, said the bank had crossed the set deposit target of Rs 500 crore by mobilizing a total deposit of Rs 521.43 crore during the year. It had distributed a total agriculture credit of Rs 481.85 crore comprising Rs 235.06 crore short term and Rs 31.56 crore medium term loans for agriculture and agri development activities.

He said the recovery of loan in the agriculture sector was 100 per cent in the last eleven years and it would be ensured this year also as there was time till this month end. The bank for the first time in its history had brought down the Non Performing Asset to single digit at 8.5 per cent (non agriculture sector) which he hoped to bring down further in the current fiscal.

He said the bank, first time in the history of co-operative sector, would launch mobile banking during June this year to provide services with linkage with all its branches in Mangalore city. It had also proposed to have online facility with Apex bank by interconnecting all Primary co-operative banks in the district with the SCDCCB, he added.

With the promotion of 20326 Navodaya Self Help Groups (SHGs), promoted by the bank, there were over 30538 SHGs in the district .

Out of these, 15505 groups had been credit linked with the total credit disbursement of Rs 52.83 crore.

He said that the foundation stone for Rs 5.5 crore Bank's new building had been laid today and was expected to be ready by March next year.

UNI