Another good year for SCDCC Bank, posts Rs23.75cr profit in Q2

Another good year for SCDCC Bank, posts Rs23.75cr profit in Q2

Submitted by alvin on Tue, 2016-06-14 09:57 Mangaluru: SDCC Bank has posted a second quarter profit of Rs23.75 crore as against Rs19.81 crore during the corresponding period last fiscal, said President of the bank, Dr Rajendra Kumar. The bank posted a profit in challenging times due to its commitment to its largest stakeholders, farmers, said Rajendra Kumar. “We have been providing loans to farmers in the region for 21 years, and they have cleared their loans consistently. The recovery rate of the loans is 100��� he said, adding that the situation was not the same in other districts where loan facility was not up to the mark.The bank achieved a turnover of Rs 5548.58 crore and in the current year it has set a target of Rs 6300 crore. SCDCC collected Rs 3099.11 crore in the year 2015-16 from its 101 branches. “This is the first co-operative bank in the state to register such a number," Rajendra Kumar said.SCDCC is the first co-operative bank to introduce mobile banking, with the bank also being the first to distribute RuPay Kissan Chip card. The bank has won the Apex Bank award 17 times and NABARD award 16 times.