SCDCC Bank nets Rs 12.77 cr profit

SCDCC Bank nets Rs 12.77 cr profit

South Canara District Central Co-operative (SCDCC) Bank has achieved Rs 12.77 crores of profit in the year 2011-12, for the first time in its 99 years of history.  With this, the Bank has surpassed the Belgaum District Cooperative Bank record and rose to number one position with highest profit. 

Addressing a press conference on Saturday, SCDCC Bank President M N Rajendra Kumar said that the bank had a turnover of Rs 2,374. 66 crores as against its target of Rs 2,085 crores. “The achievement is special because the bank has distributed Rs 157 crores of loan in 2011-12 including 55 per cent of agriculture loan,” he said.

Loss in agri loan

“According to the government policy, the Bank has been giving agricultural loan at an interest of 3 per cent. But the Bank is getting the interest amount only after two years,” he said and added that in spite of the stiff competition, the Bank has achieved 100 per cent recovery of agriculture loan consecutively for 17th year.

Stating that the SCDCC Bank has collected Rs 1,317.48 crores of deposit from its 55 branches in the year 2011-12 to become the only district cooperative bank in the State to collect such a huge amount, he said the bank has given a sum of Rs 1563.63 crores as advance which is 22.99 per cent more than previous year.

Giving details about the new facilities, Kumar said that the Bank now has Real Time Gross Settlement facility (RTGS). “SCDCC bank is the only district cooperative bank to have this facility,” he said and added that the Bank is happy to inform that the Non Performing Assets (NPA) of the bank has been dipped to 2.47 per cent.

New schemes

Rajendra Kumar said that the bank has received good response from the customers on its new schemes. “Jewellery Purchasing Loan scheme has got good response from the customers. In the year 2011- 12, the bank had distributed Rs 4.70 lakh of loan under the scheme.

With regard to Yashasvini Health Insurance Project, he said that 15,80,040 members were included into the project.  “An amount of Rs 2.25 crores has been credited to Yashaswini account while a sum of Rs 2.38 crore has been spent for the treatment in the year,” he said.

Pension for workers

On new technologies he said the Bank is the only district-level cooperative bank to have mobile banking facility. “The Bank is introducing core banking facility which would centralise the transactions of all branches in the district.” He also added that the SCDCC bank is the only district co-operative bank to introduce pension plan to bank workers.

SCDCC Bank Vice President Vinay Kumar Soorinje, Directors M Vadiraj Shetty, K S Devaraj, B Raghuram Shetty, Sadashiva Ullal, Raju Poojari, Managing Director M Gopalakrishna Bhat and Cooperative Organisations’ Deputy Manager P R Palangappa were present.

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