South Canara District Central Cooperative Bank president M.N. Rajendra Kumar speaking at the bank’s annual general meeting in Mangaluru recently.
| Photo Credit: SPECIAL ARRANGEMENT
Having registered an all-time high net profit of ₹131.14 crore in 2025-26, the South Canara District Central Cooperative (SCDCC) Bank recently declared a dividend of 10.5% to its shareholders.Chairing the 112th annual general meeting of shareholders here, bank president M.N. Rajendra Kumar said having completed 112 years in the service of farmers, the bank has consistently been on the development path. Notwithstanding stiff competition in the banking sector, particularly from nationalised and private banks, SCDCC Bank has made tremendous achievements, he said.Stating that 10 more branches would be opened this year, Mr. Kumar noted that the bank has been providing state-of-the-art services to its customers, including a mobile app, inter-bank mobile payment system, unified payment system, and so on, through its 113 branches.Mr. Kumar said that by collecting ₹9,264.85 crore deposits during the year, SCDCC Bank became the first DCC Bank in the State to collect maximum deposits. Its annual turnover touched ₹20,225 crore during the year, thereby exceeding previous years’ performance. The advances stood at ₹9,766.74 crore amid stiff competition. All farm loans extended by the bank during the year have been recovered as in the past 31 years.Mr. Kumar said the bank has also been at the forefront of promoting self-help groups (SHGs) and has formed 34,768 SHGs through various cooperative societies. Savings from these SHGs amounted to ₹156.14 crore while 34,746 SHGs have availed loans to the tune of ₹463.82 crore.Yashpal Suvarna, Udupi MLA, bank vice-president Vinay Kumar Soorinje, directors, and others were present. Published - August 26, 2026 07:43 pm IST
