Karimnagar DCCB earns Rs 100 crore profit in 2023-24
He said that the KDCCB was the third largest bank in the district in terms of doing business and extending financial assistance to the farm sector after SBI and UBI.
Karimnagar: Karimnagar District Cooperative Central Bank (KDCCB) earned gross profit of Rs 100.10 crore during the financial year 2023-24.
Bank staff celebrated the achievement of highest profit in DCCB main branch here on Wednesday. Participating in the celebrations, bank Chairman Konduru Ravinder Rao congratulated the entire DCCB team and CEO N Satyanarayana Rao for reaping highest profits and achieving NPA of 0.74 per cent.
Karimnagar DCCB, which is making strides on all fronts, has emerged as a brand in the country. The DCCB, which was running in losses to the tune of Rs 70 crore in the year 2005, has made a turnaround in the year 2011 due to the reforms such as digitalization, good governance and diversification of business activities.
Now, it managed to earn gross profit of Rs 100.10 crore during the year 2023-24, he said and informed that KDCCB model is being implemented throughout the country as ‘Telangana model’.
Moreover, the Karimnagar DCCB had become study centre for several cooperative banks in the country and others to visit the bank and PACSs and study its functioning and adopt its good practices, he said and added that the NITI AYOG had written to the union government to adopt the Karimnagar model of digitalization, good governance and diversification of the business activities to ensure that all the cooperatives run successfully.
He said that the KDCCB was the third largest bank in the district in terms of doing business and extending financial assistance to the farm sector after SBI and UBI.
Stressing on the need to strengthen the PACS, which are backbones of the cooperative structure, he said that the technology should reach PACS and convert them as extension bank counters to provide all banking services at the doorstep and increase business of the DCCB.
He also informed the branch managers to delegate the work to ensure accountability among all the staff members. With regard to the employees request for providing incentives for earning profits continuously, the DCCB chairman said that they would take a decision in the board of directors meeting.
Similarly, he also said that they were also examining to provide a dress code to all the employees by providing uniforms to give a new look to the employees.
CEO N Satyanarayana Rao appreciated the employees for their extra-ordinary work and achieving good results. Congratulating the staff for crossing the business turnover of over Rs 6,500 crore during the year 2023-24, he informed the branch managers to set the target of doing business for the year 2024-25.
