South Canara District Central Cooperative (SCDCC) Bank Ltd recorded a growth of 56.01 per cent in its profit during 2012-13.
Addressing presspersons here on Friday, M.N. Rajendra Kumar, president of SCDCC Bank Ltd, said that the bank registered a profit of Rs 18.80 crore during 2012-13 as against Rs 12.05 crore in 2011-12. The bank could achieve this business in spite of extending loans to agriculture sector at low interest rates, he said.
The bank, which has 57 branches in Dakshina Kannada and Udupi districts of Karnataka, did a business of Rs 2925.28 crore during 2012-13 as against Rs 2374.66 crore in the previous fiscal.
During 2012-13, the deposits of the bank stood at Rs 1565.96 crore (Rs 1317.48 crore) and advances at Rs 2079.45 crore (Rs 1563.63 crore).
Of the total advances, the bank extended Rs 816.71 crore to agriculture sector. He said that the loan repayment in 21 primary agricultural cooperative societies under the jurisdiction of the bank was 100 per cent.
The non-performing assets of the bank came down from 4.21 per cent in 2011-12 to 3.12 per cent in 2012-13.
Kumar said that the bank’s first branch was opened in Puttur taluk of Dakshina Kannada district in 1914. To commemorate its 100 years of operation, the bank is constructing a new building for its head office at Mangalore. Apart from the head office, the five-floor building will have provisions for a training centre and auditorium among others.
On the future plans of the bank, Kumar said 17 more branches would be opened during the current financial year. Of them, 10 branches will be opened very soon.
These branches will come up at Ullal, Haleyangadi, Mulki and Mangaladevi in Mangalore taluk; Uchchila, Katpadi and Sastana in Udupi taluk; Ajekar in Karkala taluk; Kabaka in Puttur taluk; and Kakkinje in Belthangady taluk, he said.