Chikkamagaluru: The Chikkamagaluru District Cooperative Central (DCC) Bank recorded a net profit of ₹6.87 crore and achieved a 98.5% loan recovery rate during 2025–26, bank president and MLC Dr C.T. Ravi said.
Speaking at a meeting on the bank’s financial performance, Ravi said the bank ranked seventh among Karnataka’s 21 DCC banks and secured an ‘A’ grade in NABARD’s audit and evaluation.
The bank had a share capital of ₹65.99 crore and mobilised ₹1,568.53 crore in deposits from more than 2.24 lakh depositors by the end of the financial year. Its annual business turnover stood at around ₹3,000 crore.
During 2025–26, the bank extended ₹843.84 crore in zero-interest crop loans to 54,992 farmers, while ₹569.57 crore was sanctioned to 18,061 borrowers in the non-agricultural sector.
Ravi said the bank’s NPA level stood at 3.5%. It is also expanding digital banking services, including UPI, PhonePe, Google Pay and micro-ATMs, with the aim of making the institution more farmer- and customer-friendly.
The bank currently operates 28 branches and is examining the feasibility of opening new branches at Lingadahalli, Mallanduru, M.C. Halli, Chauluhiriyuru and either Gavanahalli or Mugtihalli.
Ravi said preliminary surveys would be conducted before further action, subject to feasibility and RBI approval.
He also flagged concerns over reduced NABARD refinance support. Of the ₹32 crore interest subsidy due to the bank from the government, ₹7 crore has been released, leaving ₹25 crore pending. Ravi sought regular release of the subsidy to ensure continuity of zero-interest crop loans.
He credited the bank’s staff, farmers, members and depositors for its sustained financial performance.