Business EconomyPosted at: Aug 1 2016 3:39PM

KDCB earns Rs 24.02 cr profit in FY 15-16

Kozhikode, Aug 1 (UNI) Kozhikode District Cooperative Bank (KDCB) has posted a record Rs 24.02 crore profit during the fiscal 2015-16 as against Rs 14 crore during the corresponding period last year.
Announcing this, KDCB President Manayath Chandran said with this, the KDCB was adjudged top among cooperative banks for scoring highest profit and excellence in service.
Its total business turnover stood at Rs 6,250 crore with Rs 111.56 crore being share capital by registering 24.54 per cent deposit growth, he said.
He said the bank which has declared a 15 per cent dividend to its members will pay Rs 27.9 lakh to the state government.
Dividend cheque to the government would be handed over to Cooperation Minister at a function in Thiruvanthapuram.
Talking about future plans, he said the KDCB which has been granted NRE licence by the Reserve Bank of India (RBI) recently, proposed to launch International Rupay Card system, internet banking, online customer service and online loan policy system, Student Rupay Card for children above 10 years old, financial literacy centre, cooperative park in memory of former President A P J Abdul Kalam and complete 100 branches from the present 65 in the centenary year in 2017.
It also proposed to recruit 120 clerical staff through Public Service Commission (PSC) soon, he added.
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