SCDCC Bank regiteres a gigantic annual profit of Rs 18.8 crore

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Mangalore, April 5: Speaking to the media persons M.N.Rajendra, President of South Canara District Central Co-operative Bank Ltd (SCDCC) said in his press meet speech, held at the Bank’s Head office, Kodialbail that bank has recorded a profit of Rs.18.8 Crore for the year 2012-2013 as compared to the previous year 2011-2012 of Rs.12.05 Crore indicating the actual growth by 56% over the last year.


Rajendra Kumar further said that Bank has done a marvellous business of Rs.2925.28 Crore, thereby surpassing the target of Rs.2710 crore, earmarked for the previous year.

Bank with its 47 branches has collected a deposit of Rs 1,565.96 Crores for the current year as against previous year’s amount of Rs.1317.48 Crore. Thus recorded a phenomenal growth by 18.86% in terms of deposits.


He further stressed that it is our privilege that we could achieve all these milestones despite there being no subsidy both by the State government or Central Government and with the co-operation and hard work by our dedicated and honest staff members, thus becoming the first Co-operative Bank in the State to collect mammoth 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’2013. 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 in the meet.

Photo Source: Satish Kapikad


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