DCC bank records Rs. 41-lakh profit

The Gulbarga District Central Cooperative Bank has earned a net profit of Rs. 41 lakh for 2012-13, as per the finalised audit report.

The percentage of non-performing assets (NPA) has also come down from over 3 per cent in 2011-12 to 2.2 per cent in 2012-13, chairman of the bank Somasekhar Gonayak and Managing Director Shivasharanappa Bennur told presspersons here on Monday. The bank had retained B grade after the audit of accounts for 2012-13 and the recovery of loans had also been maintained at a high level of 99 per cent.

“We hope to bring down the NPA levels further and achieve A grade in the ranking of cooperative banks,” Mr. Gonayak said.

There was a steady increase in the demand for midterm loans from farmers after the primary land development banks stopped providing such loans and the bank was striving hard to meet the demand. While giving stress on medium term loans, the bank had not forgotten its primary responsibility of meeting agriculture loan requirements of members, he said.

He said, during 2012, loans worth Rs. 145 crore were provided by the bank and during the current year, a target of Rs. 209 crore had been set for disbursement of crop loans. So far, Rs. 125 crore had been released as crop loans.

Apart from this, the bank had provided Rs. 12 crore gold loans to members, he said.

Mr. Gonayak said that the bank had set a target for itself of providing midterm loans to 500 members and a sum of Rs, 34 crore exclusively for land development and pipeline extension loans had been set aside for midterm loans. Another Rs. 5.4 crore had been earmarked for tractor-trailer loans during the current year.

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