Mangalore: In his press interview presenting the annual progress report and future schemes in action of The South Canara District Co-operative Bank Ltd (SCDCC) in its Kodialbail head office on Thursday, April 21 at the Molahalli Shiva Rao Hall, M.N Rajendra Kumar, chairman of the distinguished Bank approaching its century of useful existence, informed his share holders through the media persons that the Bank had earned a net highest ever profit of Rs.11.10 crores as on 31.02.2011.
The Bank has earned this credible profit even after providing agricultural loans to DK farmers at the lowest interest rates as advance facilities, which earned widespread adulation to the Bank, a premier bank in the history of co-operation sector born in DK, is looking ahead to complete a century and counts as the best district level prestigious co-op bank in India as a whole, the chairman announced.
The business of the Dt. BK in co-operative sector in 2010-11 exceeded Rs.1,800 crores to reach Rs.1880 crores, citing the support it had from its rural customers.
The Bank has 54 branches (all computerized) which collected over Rs.1,071 crores of deposits and lent Rs.1000 crores on advances (loans). This is 15% above last year’s figures. The Bank now has a decisive role in establishing co-operative bank as part of economic activities. The Bank directly deals with the prime sector of economy, namely, farming including horticulture.
876 associations are members of this Bank, with share-holdings of Rs.25 crores. The Bank has funds over Rs.37 crores in various categories. Its working capital reaches Rs.1455 crores.
The Bank has implemented self-help groups scheme in undivided DK Dt (including Udupi). There are 35,000 such groups of women’s groups are 22,600, Kumar informe3d. There are several future schemes on the anvil, he added. Top officers of the Bank were present.