Mangaluru: Chairman of South Canara District Central Cooperative (SCDCC) Bank Ltd, M N Rajendra Kumar, announced that the bank earned a record profit of Rs 21.84 crore for the financial year 2016-17 even after facing adverse effects of demonetisation exercise. Kumar said that the bank reached total turnover figure of Rs 5883.66 crore at the end of the financial year under review.
Addressing a press conference on Monday, M N Rajendra Kumar said, "The bank has set for itself an ambitious target of Rs 6,900 crore for next year. The bank could collect Rs 3,201.64 crore through its 101 branches without the support of deposits from state and central governments. The bank has lent Rs 924.63 crore to agricultural sector and total outstanding from agricultural and non-agricultural loans stands at Rs 2,682.02 crore."
"For the 22nd year in succession, the bank has recorded 100 percent recovery under agricultural loans, which in itself happens to be a national record. The bank has issued 72,837 RuPay credit ards and 37,616 RuPay debit cards through its branches," he stated.
