Karnataka-based Suco Souharda Sahakari Bank has crossed the entry point norm to become a scheduled bank.
Sharing unaudited figures with Indian Cooperative, the bank’s Chairman Mohit Maski’s message reads, “The SUCO Bank performed well on all financial parameters and earned a net profit of Rs 6.23 crore in the 2023-24 FY”.he revealed.
The deposits and advances of the bank as of 31st March 2024 stood at Rs 1,114 crore and Rs 713.5 crore respectively. The total business mix of the bank stood at Rs 1827 crore.
The SUCO Bank has its presence in 17 districts of Karnataka and was the first cooperative bank in the North Karnataka region to have an IFSC Code, independent of the RBI.
With 29 branches spread over 12 districts, the SUCO Bank is also the first cooperative bank to accept and sanction loan applications online, from April 2022.
