Andhra Pradesh

KDCC Bank achieves 43% growth

The Krishna District Cooperative Central (KDCC) Bank Limited has outperformed many cooperative banks in the country to register a growth of 43%, said its Chairman Yarlagadda Venkat Rao on Tuesday.

The bank, established by Sri Bhogaraju Pattabhi Seetaramaiah on January 17, 1915, was celebrating 105 years of existence, Mr. Venkat Rao said. KDCC Bank was operating with 425 affiliated Primary Agriculture Cooperative Societies (PACS) and 58 branches, with Machilipatnam as its headquarters, he said.

Giving details of the bank’s performance during the 2020-21 financial year (till January 15), the Chairman said KDCC Bank did a business of ₹6,980 crore.

“Our bank has reserves of ₹209 crore, ₹215.62 crore share capital, ₹2,620 crore deposits, ₹2,306 crore borrowings, ₹4,287 crore outstanding loans, ₹1,054 crore in investments and Non-Performing Assets (NPAs) of 1.35% (net),” Mr. Venkat Rao said.

“This year, the bank is planning to institute awards for best performing engineering and medical students and best managers in the names of its founders Bhogaraju Pattabhi Seetaramaiah and Ayyadevara Kaleswara Rao,” the Chairman said.

“The bank is also proposing to extend loans to customers other than farmers, including government employees,” Mr. Venkat Rao said.

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Printable version | Mar 7, 2021 12:03:41 AM | https://www.thehindu.com/news/national/andhra-pradesh/kdcc-bank-achieves-43-growth/article33613037.ece

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