104th AGM: SCDCC Bank posts a profit of Rs 29 cr

Hindu reports South Canara District Cooperative Central (SCDCC) Bank recently announced in its 104th general body meeting that it has netted a net profit of Rs 28.90 crore and that the bank will give 9.5 dividend to its member cooperatives.

The bank will offer inter-banking mobile payment system and Inter-banking service to its customers, the bank’s president Rajendra Kumar said.

The bank posted a total business of Rs. 6,748.84 crore and its deposits counted Rs. 3,561.24 crore. The bank claims altogether 960 cooperative institutions as members.