Mangaluru : SCDCC Bank president M.N. Rajendra Kumar on Wednesday announced that the bank has decided to pay 9% dividend to member societies, having registered an all-time high net profit of Rs.79.05 crore in 2023-24.

Chairing the 110th annual general meeting of the bank here, Mr. Kumar said the bank has adapted to changes by introducing mobile app, tab banking, inter bank mobile payment system, Internet banking etc. through its 113 branches in Dakshina Kannada and Udupi districts. The bank plans to open 10 more branches this financial year, he added.

Mr. Kumar claimed that the bank has exceeded targets in every aspect during the year under report. Registering a total business turnover of Rs. 15,544.34 crore, SCDCC Bank collected Rs.7,224.91 crore deposits during the period.

The president said the bank had given advances of Rs. 6,485.12 crore during the year under competitive banking business scenario.

SCDCC Bank has also achieved the distinction of 100% agriculture loan repayment by members consecutively for the last 29 years. It was also at the forefront of establishing self-help groups in the two districts and has opened 34,523 SGHs so far. These SHGs have savings of Rs. 136.58 crore.

The bank has received the Atal Pension Yojana National Award for the third time during the year under report.

The District Central Bank on this occasion presented special awards and 8 gm gold coin to cooperative undertakings that have done excellent business during the year.

They included Ramakrishna Credit Cooperative Society, Mangaluru, doing Rs. 1,000 crore business; Mahalakshmi Cooperative Bank and Badagabettu Cooperative Society, both in Udupi, collecting Rs. 500 crore deposits and many others collecting deposits of over Rs. 100 crore.

As many as 13 primary agriculture credit cooperative societies that achieved 100% loan recovery were felicitated while district bank awards were presented to three each cooperatives in A and B grade PACCS.