Mangalore: SCDCC Bank makes annual profit of Rs 18.8 crore

Pics: Spoorthi Ullal
Daijiworld Media Network – Mangalore (VM)

Mangalore, Apr 5: The South Canara District Central Co-operative Bank Ltd which is in its centenary year gained a profit of Rs 18.8 crore for the current year 2012-13 as against Rs 12.05 crore for the year 2011-12, with a growth of Rs 56% over the last year said, M N Rajendra Kumar, president of SCDCC Bank.

He addressed the media at an annual conference at the Bank’s head office in Kodialbail here on Friday April 5.

Elaborating, Rajendra Kumar said that the Bank has done a total business of Rs 2,925.28 crore thus crossing the target of Rs 2,710 crore. "Despite there being no subsidy by the state and the central governments, the Bank through its 47 branches has collected a deposit of Rs 1,565.96 crore for the year 2012-13, surpassing last year's amount of Rs 1,317.48 crore, thereby beoming the the first co-operative Bank in the state to collect huge deposits," he said.

In addition, the Bank is the first in the country to obtain direct loan from the NABARD for the year 2012-13. The Bank has 902 groups under it as its members. The share capital for the year is Rs 34.90 crore which is 19.28 % more than the last year.

"The new 5-floor Bank building which is under construction will be inaugurated in November. It consists of head office, training centre, AC hall, conference room and others," said Rajendra Kumar.

Vinay Kumar Soorinje, vice-president, B Niranjan, director, M Gopalkrishna Bhat, managing director, M Vadhiraj Shetty, Bhaskar S Kotian among others were present.