Bangalore City Co-operative Bank net profit at Rs 28.54 cr

NT Correspondent

Bengaluru: The Bangalore City Co-operative Bank (BCCB) Ltd has reported a net profit of Rs 28.54 crores for the financial year 2022-23. This has come despite facing a loss of Rs 28.53 crores after tax and concessions.

The bank, which has been in operation since 1917, boasts of a statewide presence with 22 branches, including 20 in Bangalore, one each in Mysore and Ramanagara. BCCB chairman Avalahalli Chandrappa said the institution has been providing reliable and trustworthy service to its customers for over 11 years, earning a reputation of being "the best cooperative bank" in the state.

The bank's turnover has exceeded Rs 3,700 crore, with a total working capital of Rs 2815.18 crore, including Rs 2,200 crore in share capital and Rs 1,100 crore in government bonds and other investments. Additionally, the bank has given loans worth Rs1441.08 crores. Bank Manager P Manjunath attributes the bank's continued success to its superior service, which has earned it the trust of its customers.