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District Central Cooperative Bank posts 5.12 cr profits in last fiscal
West Godavari District Central Cooperative Bank (DCCB) achieved a profit of Rs 5.12 crore during the last financial year, said bank Chairman Mutyala Venkateswara Rao (Ratnam).
Eluru: West Godavari District Central Cooperative Bank (DCCB) achieved a profit of Rs 5.12 crore during the last financial year, said bank Chairman Mutyala Venkateswara Rao (Ratnam).
Addressing a media conference at the bank here on Tuesday, the Chairman said that the DCCB has entered the 100th year of its service this year. He said during the centenary celebrations, the bank has given highest priority to the welfare of customers. He stated that he will invite Chief Minister N Chandrababu Naidu to participate in the centenary celebrations of the DCCB that would be held soon.
The Chairman said that he took charge as Chairman of the bank when it recorded Rs.2.76 crore profits in the financial year 2013. Now, the profit has reached Rs.5.12 crore. During the current financial year, the bank would achieve more profits and put the bank in the first place in the state.
He said that in 2013, the bank distributed Rs.1,400 crore and now the loan amount reached Rs 2,000 crore. He said that 100 years ago, the bank was set up with 29 members and now, the membership reached 2.17 lakh customers with 34 bank branches.
He said that through 204 Primary Cooperative Societies, the bank is conducting fertilisers business to benefit the farmers by giving fertilisers in time. He said that the DCCB of West Godavari bagged Sahakarita Bharati award announced by NABARD three times for its services to the farmers. The bank also extending loans to self-help group women and got NABARD award in this regard.
Bank directors OSD VVN Phani Kumar, CEO YV Raghavendra Reddy, general manager K Srinivasa Rao, A Madhavi Murthy, K Kiranmayi, Eluru Bazaar Branch Manager K Muralikrishna, Care Taker, K Vijayakumar and others participated in the media conference.
