Pic: Dayananda Kukkaje
Daijiworld Media Network—Mangalore (RS/CN)
Mangalore, Jun 24: “The South Canara District Central Co-operative Bank (SCDCC) registered a profit of Rs 7.59 crore in the previous financial year (2008-09), which is a first time achievement in the history of the bank in 96 years”, said M N Rajendra Kumar, president of the bank, on Tuesday June 23.
Briefing about the growth of the bank at a press meet, he said that the growth was noted as a result of major developments in the bank’s operating system which is computerized and by helping agriculturists with loans.
Kumar added that the agricultural loan provided by the bank at low interest rates has not affected the bank’s profit much.
“The bank has collected Rs 786.01 crore in deposits and Rs 689.61 crore of loans which are equally agricultural and non-agricultural”, he said adding, “the bank’s total turnover for the financial year has amounted to Rs 1475.62 crore”.
“The bank has achieved cent percent success in recovery of loans for 14 consecutive years. The self-help groups and ‘Yashaswini’ health insurance scheme, ‘Mangala Kisan’ credit card and other programmes from the bank have also gained popularity among its customers who are benefiting from it”, explained Kumar.
“The bank is going to install core banking this year and in 2010, the organization will come under this system”, he said.
Kumar also detailed the student scholarship programmes, uniform dress code for bank staff, mobile banking and telebanking plans.
Vice-president of the bank Vinaya Kumar Soorinje and all of its directors were present at the press meet.