Banking News

SCDCC Bank records ₹33.65 crore profit


The South Canara District Central Cooperative (SCDCC) Bank recorded a profit of ₹33.65 crore for the fiscal 2020-2021, said SCDCC Bank Chairman M.N. Rajendra Kumar here on Saturday.

Talking to reporters, Mr. Kumar said that the total business in the bank’s 105 branches in 2020-21 was ₹10,100.3 crore, which was 19.3% more than the total business recorded in 2019-20.

The total deposits for 2020-21 was ₹4,948.34 crore and this was 17.65% more than deposits received in 2019-20. The total advances in 2020-21 was ₹3,712.67 crore of which ₹1,596.04 crore was for short-term loans given in the agriculture sector. As many as 1.19 lakh farmers have been given RuPay Kisan Cards, while 58,910 RuPay debit cards have been given to other customers.

The two-month-long campaign by the bank from January to take banking services to the doorsteps of people led to opening of 24,036 savings bank accounts. It received ₹48.77 crore in the form of deposits and disbursed ₹118.84 crore as loan in this period.

The bank will shortly start its Bank-on-Wheels facility in Udupi. It will also launch internet banking, IMPS (interbank mobile payment system) and Bharat Bill Payment System. The bank has planned to have one ATM in the main branch of each taluk, Mr. Kumar said.

SCDCC Bank Vice-President Vinaykumar Soorinje and Chief Executive Officer Ravindra B. were present.


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