Kerala-based Malankara Multistate Cooperative Credit Society, promoted by businessman and philanthropist Dr. Boby Chemmanur, has crossed a business mix of over Rs 1,000 crore, marking a significant growth milestone.
At its 17th Annual General Meeting (AGM) held at Bini Heritage, Thrissur, the Society declared a 6% dividend for members, citing robust performance in FY 2024–25.
A press release coming to the Indian Cooperative Desk reads, “Total business turnover stood at Rs 895 crore, a 23% rise over the previous year. Membership increased by 35% to 85,807, while net profit was reported at Rs 7.11 crore, extending its track record of profitability. The Society has since surpassed the Rs 1,000-crore business mix mark.”
The AGM was presided over by Chairman C.B. Jisso, with addresses from Director Thomas Koshy and Deputy CEO Sivaprakash, while Vice Chairperson Mariamma Pious proposed the vote of thanks.
Outlining the roadmap ahead, Chairman Jisso announced a long-term vision to achieve Rs 25,000 crore in business turnover by 2030.
As part of its growth strategy, the Society launched the “Malankara Member App”, enabling secure digital services such as deposits, loan payments, and instant account access.
It also rolled out diamond jewellery loans at branches in Thiruvananthapuram, Ernakulam, and Thrissur, along with property and vehicle loans, women-focused two-wheeler loans, personal loans, microfinance, and flexible deposit schemes ranging from 30 days to 25 years.
The Society also became the first Kerala-based multistate cooperative credit society to gain membership in the International Cooperative Alliance (ICA).
Chairman Jisso reiterated the Society’s guiding motto: “To serve at least one good deed among thousands, millions, and billions of people around the world.”