SCDCC Bank reports ₹110.4 crore gross profit for 2024-25, records 39.59% growth

SCDCC Bank reports ₹110.4 crore gross profit for 2024-25, records 39.59% growth

Mangalore Today News Network

Mangaluru, April 3, 2025: The South Canara District Central Cooperative (SCDCC) Bank reported a gross profit of ₹110.4 crore for the financial year 2024-25, marking a 39.59% increase from ₹79.09 crore in 2023-24, SCDCC Chairman M.N. Rajendra Kumar announced in Mangaluru on Wednesday.

Addressing reporters, Mr. Kumar highlighted the bank’s progress, noting a decline in non-performing assets (NPA) from 3.52% to 2.71%. The bank recorded a total business turnover of ₹17,366.68 crore for 2024-25, reflecting an 11.72% growth compared to the previous year. The bank has set a target of ₹19,250 crore in business for 2025-26.

 

 

Continuing its support for farmers, the bank issued short-term interest-free loans under a government scheme. The total short-term loans extended to the agriculture sector stood at ₹2,130.95 crore, while mid-term loans amounted to ₹169.79 crore.

As of 2024-25, total advances amounted to ₹7,775.44 crore, while outstanding dues stood at ₹9,483.92 crore. Mr. Kumar noted that the bank has maintained a 100% recovery rate for agricultural loans over the past three decades.

The bank’s 113 branches collectively hold deposits worth ₹7,882.76 crore, reflecting a 9.11% increase from 2023-24. A significant rise in deposits is expected following the government’s directive requiring non-agricultural cooperative societies and temples to deposit their funds in district cooperative banks.