The South Canara District Cooperative Bank has earned a profit of ₹28.63 crore during 2017-18, which was 19 % more than ₹24.07 crore earned in 2016-17, said president M.N. Rajendra Kumar here on Saturday.
Talking to presspersons, Mr. Kumar said at the end of financial year the bank had a total business of ₹6,748.84 crore and deposits at its 105 branches was at 3,561.24 crore. The total advances of the bank was ₹2,778.3 crore of which ₹1,199.48 crore was for agriculture sector.
He said with the recent loan waiver notification of the State government, the extent of waiver for Dakshina Kannada and Udupi farmers will be around ₹724 crore. The ATM at the bank’s main branch in Kodialbail has installed cash deposit and cheque deposit machines of KEONICS. The bank was working on starting internet banking and the Inter Bank Mobile Payment System, he added.
