DCCB targets ₹3,600 cr business for 2024-25

Chittoor : Chittoor district Joint Collector G Vidyadhari announced that Chittoor District Cooperative Central Bank (DCCB) has set a target of achieving a business turnover of Rs 3,600 crore for the 2024-25 financial year. As part of this goal, Rs 1,100 crore will be raised through deposit collections and Rs 2,500 crore will be disbursed in loans. The Joint Collector presided over a DCCB meeting held on Wednesday at the bank’s premises. During the meeting, the 2023-24 annual financial report of the bank, which concluded on March 31, 2024 was approved.

Speaking on the occasion, Vidyadhari shared the bank’s financial performance for 2023-24. The bank earned a profit of Rs 9.66 crore, with non-performing assets (NPA) standing at 1.53 per cent. The bank’s deposits reached Rs 932.14 crore, while loans amounted to Rs 2,002.25 crore, reflecting steady progress.

For the 2024-25 financial year, the bank has set its business goal at Rs 3,600 crore, comprising Rs 1,100 crore from deposits and Rs 2,500 crore in loan disbursements. To strengthen cooperative societies, Vidyadhari emphasised the need to promote fertiliser business development in 14 primary agricultural cooperative societies across Chittoor district.

Officials from the Chittoor and Tirupati Cooperative Departments, including Nagavardhana and S Lakshmi, as well as Murali Krishna and Prabhakar from the Agriculture and Animal Husbandry Department and DCCB CEO I Manohar Goud along with other members attended the meeting.