Daijiworld Media Network – Mangalore (KD/AF)
Mangalore, Apr 23: South Canara District Credit Cooperative (SCDCC) Bank has earned a net profit of Rs 5.2 crore in the year 2006-07, thus creating a new record in its 94 years of existence.
Addressing press persons here on Saturday April 21, SCDCC Bank chairman M N Rajendra Kumar said that after 94 years the Bank has registered a business of Rs 1,014.88 crore in 2006-07, which includes the deposit collection of Rs 521.43 crore as on March 31, 2007.
Out of the 481.85 crore which the Bank had given as loan, 60 per cent was given to agriculture and the remaining the 40 per cent was lent to non-agriculture works.
He said for the first time the Bank's Non-performing Asset (NPA) has come down to 8.5 per cent amounting to Rs 42 crore.
The Bank formed 20,326 self help groups (SHGs) in Udupi and Dakshina Kannada districts. It has given a loan of 52,83 to the SGHs and a sum of Rs 22,13 crore has been saved by the SGHs, Kumar said.
Vice-president N Ramesh Shetty, directors B Niranjan, K S Devraj, A Jeevan Bhandary, Vinay Kumar Soorinje, managing director P Narayana Kamath and Co-operative registrar P R Palangappa were present.