Date:07/04/2006 URL: http://www.thehindu.com/2006/04/07/stories/2006040703041600.htm

Business - Briefly

KSCAB achieves higher profit

MANGALORE: The Karnataka State Co-operative Apex Bank Ltd. has posted an impressive performance in 2005-06. The financial figures, as mentioned in a release from the bank, show Rs. 2,262 crore towards mobilisation of deposits and working capital to an extent of Rs. 3,700 crore giving the bank a net profit of Rs. 27.27 crore during 2005-06. According to the Chairman, M. N. Rajendra Kumar, the net profit earned in 2005-06 was the highest in the last five years. The bank has disbursed loan up to Rs. 1,762.52 crore during 2005-06 through 21 district Central Co-operative banks and 4587 Primary Agricultural credit Co-operative societies. Out of 1,762.52 crore, a sum of Rs. 1,111.88 crore have been advanced to the farm sector and Rs. 650.64 crore to the non-agricultural sector. The bank will also computerise all the District Central Co-operative Banks which will facilitate online banking between DCC banks and the Apex bank he added.