agriculture, Education, Karimnagar, National, Telangana

Karimnagar DCCB nets profit of Rs 100.10 crore in 2023-24

Chairman Konduru Ravinder Rao congratulates the DCCB team and thanks the customers

KARIMNAGAR, APRIL 02, 2024: The Karimnagar District Cooperative Central Bank, has posted a profit of Rs 100.10 crore breaking all previous records for the financial year 2023-24, up from Rs 91.40 crore it registered during the year 2022-23.

The most important parameter of Gross NPA (non-performing assets) is pegged at 0.75 per cent in 2023-24 as against 0.97 per cent last year (2022-23). A reduction of 0.22 per cent is a great achievement and it is the result of concerted efforts of all the KDCCB team members including those at the helm.

The KDCCB deposits have grown from Rs.2282.62 crore to Rs 2528.90 crore, an increase of Rs.246.28 crore (10.79 per cent). The Advances have grown from Rs. 3342.38 crore to Rs.3973.34 crore an increase of Rs 629.96 crore (18.85 per cent). The Total Business of the Bank is increased by Rs 876.24 crore  i.e; 15.57 per cent growth.

Karimnagar DCCB chairman Mr Konduru Ravinder Rao has attributed the success of the bank and making profits consecutively since 2012 onwards due to the team work under the guidance of CEO N Satyanarayana Rao. Thanking the customers for banking with KDCCB and making it run in profits, he said that the team work and good governance is the success mantra of the bank to emerge as third leading bank in the district after SBI and UBI. He also thanked the NABARD for its unstinted support and guidance and the support extended by bank directors, presidents and secretaries of PACS.

Karimnagar DCCB CEO Mr N Satyanarayana Rao attributed the guidance and support of bank chairman K Ravinder Rao, Board Members and the diligence with which our staff has put their heart and soul to execute  and every member of our team KDCCB are the reasons for this phenomenal achievement.

“I am overwhelmed with the results and my words fail to express my whole hearted thanks to each and every one particularly our most trusted customers. I congratulate each and every one and convey my sincere thanks to your family members including my family members from bottom of my heart for supporting in discharging of duties and look forward for similar support in the years to come”, Mr Satayanarayana Rao stated. He thanked TSCAB managing director CGM, senior officers, NABARD CGM, DDMs and senior officers for their support.


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