SISCO Bank pays dividends of Rs 1.52 cr to State Govt

Gangtok, 11 Sept [IPR]: Sikkim State Co-operative Bank Ltd [SISCO Bank] during its Annual General Meeting held in Gangtok on 07 Sept declared a net profit of Rs 4.33 crore for the Financial Year 2017-18. The bank has shown excellent growth during the year with total income during the year reaching Rs 163.07 crore compared to Rs 89.74 crore during the year 2016-17. Net Non-Performing Asset [NPA] of the bank as on 31 Mar, 2018 stood at 3.64% and Capital to Risky Asset Ratio [CRAR] at a comfortable 12.53%. The SISCO Bank presently has a network of 14 branches and 14 ATMS spread across the State. The State owned bank now offers facilities of ATM-Debit cards, RTGS/ NEFT, AEPS and PFMS to its customers. The bank presently has a clientele of about 75000 depositors and has advanced loans to more than 20,000 people of Sikkim. The major thrust of the bank has been agricultural lending with more than Rs 300 crore already disbursed to Sikkimese farmers as loans under agri and allied sectors. The bank paid a dividend of Rs 1.52 crore to the State Government against its Shareholding. The dividend was received by Chief Minister Pawan Chamling at his official residence on 10 Sept. SISCO Bank has invited all Sikkimese people to patronize the bank and avail quality and personalized Banking Services.