The State Cooperative Banks in Telangana have achieved a total business of Rs 40,000 crore during the financial year 2022-23. Among them, Karimnagar DCCB has contributed Rs 5,625 crore. The bank has also recorded a profit of Rs 91.40 crore, up from Rs 68.08 crore in the previous year. Additionally, they have reduced their gross non-performing assets from 1.50 per cent to 1 per cent during the same period.
KDCCB Chairman Konduru Ravinder Rao expressed his gratitude to the customers for their trust and confidence in the bank. Despite losing some deposits, the bank has achieved steady growth with no negative impact on its business. The KDCCB aims to achieve a business target of Rs 7,000 crore during the financial year 2023-24. They plan to lend crop loans worth Rs 1500 crore, term loans worth Rs 300 crore, SHGs loans worth Rs 150 crore, educational loans worth Rs 100 crore, housing loans worth Rs 200 crore, and other loans worth Rs 1550 crore.
The Karimnagar DCCB is also a role model for the entire country in computerization of PACS and introducing new HR policy for PACS. The continuous profits are attributed to the team effort of the DCCB employees. KDCCB Vice Chairman P Ramesh, Directors P Mohan Reddy and Swamy Reddy, CEO N Satyanarayana Rao, NABARD DDM P Ananth, and others were present during the announcement.
