South Canara District Central Bank targets ₹12,000-cr biz in 5 years

The South Canara District Central Cooperative (SCDCC) Bank Ltd is targeting a business of ₹12,000 crore in the next five years.

Addressing presspersons in Mangalore on Saturday, MN Rajendra Kumar, president of the bank, said that the bank is planning to cross a business level of ₹5,000 crore during 2014-15. The bank did a business of ₹3,411.65 crore during 2013-14.

Giving details about the performance of the bank, Kumar said the bank recorded a gross profit of ₹18.66 crore in 2013-14 as against ₹17.76 crore in 2012-13.

Stating that the net NPA (non-performing asset) of the bank stood at 1.78 per cent during 2013-14, he said the plan is to bring it down below 1 per cent by the end of the current financial year.

At present, the bank is heavily dependent on the agriculture portfolio for its business. It also plans to focus on corporate banking in the coming years, he said.

The bank has been extending the facility of RuPay kisan credit cards to members of the primary agricultural credit societies under its jurisdiction in Dakshina Kannada and Udupi districts. This facility would be extended to members of milk producers’ cooperative societies in these districts, he said.

To commemorate its centenary year celebrations during the current financial year, the bank wants to set up a chair in cooperative study in Mangalore University. The Government will be requested to extend its help in this regard, he said.

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