SCDCC bank earns record profit of Rs 21.84 cr during 2016-17

The city-based South Canara District Central Cooperative (SCDCC) bank has earned a record profit of Rs 21.84 crore for the financial year 2016-17, the bank said.
Bank chairman M N Rajendra Kumar said in a statement here that the bank reached a total turnover estimate of Rs 5883.6 crore at the end of the financial year.
The bank had set for itself a challenging goal of Rs 6,900 crore for the upcoming year and could collect Rs 3,201. 64 crore through its 101 branches without the support of deposits from state and central governments.
The bank lent an approximate amount of Rs 924.63 crore to the agriculture sector and the total outstanding and non-agricultural loans stood at Rs 2,682.02 crore.

For the 22nd year in succession and progress, the bank had recorded 100 percent recovery under agricultural loans, which in itself was a national record, the statement said. The bank had issued 72,837 RuPay credit cards and 37,616 RuPay debit cards through its branches, Kumar said.