SCDCC bank achieves record profit of Rs 33.65 crore

Mangaluru: A city-based South Canara District Central Co-operative (SCDCC) bank has achieved a record-breaking profit of Rs 33.65 crore in 2020-21 fiscal, compared to Rs 30.83 crore in the previous year.

Bank president M N Rajendra Kumar said that despite the impact of the coronavirus pandemic, the bank managed to perform well by securing a record-breaking profit.

The bank has done a total business of Rs 10,100.30 crore with a growth of 19.30 per cent and aims to touch Rs 11,000 crore in the next financial year. The bank, with 105 branches, has seen deposits of Rs 4948.34 crore, he told reporters here on Saturday, April 3.

The bank also bagged 19 Apex Bank awards, 17 NABARD awards, FCBA national award for two consecutive years and Banko Blue Ribbon award. A total of 1,32,832 farmers were given loans under Mangala Kissan credit card and 87,620 beneficiaries availed schemes for accidents under Kisan credit card, he said.

The bank has planned new projects like introducing interbank mobile payment system, internet banking, mobile banking in Udupi, 10 new branches, new building for Siddapur branch, ATM in every taluk and Bharat Bill payment system, Rajendra Kumar said.