SUCO Bank achieves impressive growth; business & profit register rise
Dy CM recently launched UCB’s Start-up to Self-Employment scheme
Beating Covid 19, Karnataka based Suco Souharda Sahakari Bank which is popularly known as “SUCO Bank”, has achieved a business mix of Rs 1346 crore in the 2020-21 financial year which is higher in comparison to the 2019-20 FY. Besides this, the bank has also earned a handsome profit of Rs 3.35 crore despite several challenges due to adverse market conditions.
Talking to Indian Cooperative, the bank Chairman Mohit Maski said, “The 2020-21 financial year was satisfactory in comparison to the previous financial year. We have registered growth almost on all the parameters but I am disappointed that our bank has failed to achieve the proposed target set to disburse loans due to lockdowns and other challenges”.
To beat the adverse market conditions, Karnataka based SUCO Souharda Sahakari Bank has launched the ‘Start-up to Self-Employment’ scheme to develop start-up business which was affected during the Covid-19 Pandemic. The scheme was inaugurated by Karnataka Deputy Chief Minister Sri Ashwatha Narayana.
Talking to Indian Cooperative correspondent bank Chairman Mohit Maski said, “Under the Start-up to Self-Employment scheme, we have tied-up with three organizations and given a chance for people to start their own business. These are Bat Fly- Battery Refurbishing, Samvita- Primary Health Care Diagnosis Kit and NEERAW- Naturally Sourced Health Drink”.
“The Bat Fly scheme allowed the people to start the business of lead batteries which is the most commonly used medium of energy storage. For this, our bank has tied up with Bangalore based Banashree System Private Limited and offering an opportunity for entrepreneurs to open battery refurbishing points’ ‘, Maski added who has be