Mangaluru's SCDCC Bank Achieves Significant Profit Growth in 2025-26 Financial Year
The South Canara District Central Co-operative Bank (SCDCC), based in Mangaluru, has announced impressive financial results for the fiscal year ending March 31, 2026. The bank reported a substantial profit of Rs 131.1 crore, marking an 18.7% increase from the previous year's profit of Rs 110.4 crore. This growth underscores the bank's robust performance and strategic management in a competitive financial landscape.
Record Business Volume and Future Targets
During a press conference held on Saturday, SCDCC Bank President MN Rajendra Kumar revealed that the 112-year-old institution achieved a total business volume of Rs 20,226.1 crore for the 2025-26 period. This represents a 16.4% rise from the Rs 17,366.6 crore recorded in the preceding year. Looking ahead, the bank has set an ambitious business target of Rs 22,500 crore for the 2026-27 financial year, indicating confidence in continued expansion and market penetration.
Improved Asset Quality and Deposit Mobilization
The bank's asset quality showed notable improvement, with the Non-Performing Asset (NPA) ratio declining from 2.4% to 2.2%. This reduction reflects effective risk management and recovery efforts. Additionally, SCDCC Bank successfully mobilized Rs 9,264.6 crore in deposits, a 17.5% increase, without relying on government deposits. This achievement highlights the bank's ability to attract customer trust and funds independently.
Longstanding Agricultural Loan Recovery and Expansion Plans
In a remarkable feat, SCDCC Bank has maintained a 100% recovery rate for agricultural loans over the past 31 years, demonstrating its commitment to supporting the farming community while ensuring financial discipline. To further its reach and services, the bank plans to open 10 new branches in the current year, aiming to enhance accessibility and customer engagement across the region.
These results position SCDCC Bank as a key player in the cooperative banking sector, with strong growth prospects and a solid foundation for future initiatives.
