SCDCC Bank declares 9.5% dividend for member coops

Having registered Rs. 28.63 crore net profit in 2017-18, the South Canara District Cooperative Central (SCDCC) Bank on Saturday declared 9.5% dividend to member cooperatives.

Announcing this at the 104th annual general body meeting of the bank here, president M.N. Rajendra Kumar said that the bank’s performance during the year has been exemplary.

The bank will adopt inter-banking mobile payment system and Inter-banking service to customers soon, he said.

The total business recorded was Rs. 6,748.84 crore while in the deposits front, the Bank collected Rs. 3,561.24 crore.

In the advances front, the bank lent Rs. 2,778.3 crore and it had share capital of Rs. 139.33 crore, working capital of Rs. 4,844.6 crore and different funds worth Rs. 105.51 crore with 960 cooperative institutions as members.

SCDCC Bank, Mr. Kumar said, has achieved target in recovery of all agricultural loans for the 23rd consecutive year.

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