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Karimnagar DCCB nets profit of Rs 91.4 crore
KDCCB sets a target of doing business of Rs 7,000 crore during 2023-24
KARIMNAGAR: The State Cooperative Banks have done a total business of Rs 40,000 crore during the financial year 2022-23 in entire Telangana State. Out of which, Karimnagar DCCB alone had done a business of Rs 5,625 crore.
The Karimnagar DCCB has posted a profit of Rs 91.40 crore for the financial year 2022-23, up from Rs 68.08 crore it registered in the year 2021-22. The bank has brought down its gross non-performing assets (NPA) from 1.50 per cent during the year 2021-22 to 1 percent during the financial year 2022-23.
Talking to newsmen here on Monday, KDCCB chairman Konduru Ravinder Rao said that the bank had done a total business of Rs 5,625 crore during the last financial year with a growth rate of 14.79 per cent. In spite of losing some deposits, the bank had made steady growth and there was no minus growth, he stated and thanked the customers for reposing faith and banking with the KDCCB for their all needs.
Buoyed over steady profits since 2012 onwards, the KDCCB has set a target of doing business of Rs 7,000 crore during the financial year 2023-24. He said that the bank has set a target of lending crop loans to the tune of Rs 1500 crore during this financial year, Rs 300 crore for term loans, Rs 150 crore for SHGs, Rs 100 crore for educational loans, Rs 200 crore for housing loans and Rs 1550 crore for other loans.
Among all the nine DCCBs in the Telangana State doing a business of Rs 19,000 crore during the last financial year, the Karimnagar DCCB alone had done a business of Rs 5,626 crore, which is around 26 per cent. Rao, who is also chairman of TSCAB and NAFSCOB, said that the Telangana State cooperative emerged as role model for entire country in computerisation of PACS and introducing new HR policy for PACS.
Attributing the continuous profits due to team work of the DCCB, he said: "I am happy to see the bank making strides on all fronts. I whole-heartedly congratulate the entire bank employees for their relentless service to the customers and achieving the target of doing the business".
Vice chairman P Ramesh, directors P Mohan Reddy, Swamy Reddy, CEO N Satyanarayana Rao, NABARD DDM P Ananth and others were also present.
