Kendrapara

The Kendrapara Urban Co-operative Bank Ltd, is one of the largest Co-operative Banks in the State. In its outlook and approach it has the objective of progress & prosperity for all. From a humble beginning in September, 1986 with a share capital of Rs. 1.75 lakhs held by 523 members and being registered under the Orissa Co-operative Societies Act vide Registration No. 123KE/ 26.09.1986 it commenced banking business after obtaining formal license from Reserve Bank of India in the year 1988. The bank was established under the dynamic leadership of Sri Bhagabat Prasad Mohanty, a noted politician, lawyer & social reformer of the State. Today the Bank has become one of the largest Urban Co-operative Banks of the State having six branches operating at various places of the district and a corporate office at Kendrapara town in its own building. The area of operation of the Bank is now covered to the whole Kendrapara, Jajpur & Jagatsinghpur districts.

Now, the working capital of the bank stands at Rs.197 crore and Reserve & Surpluses at Rs.3.75 crore as on 31st March, 2022. Over the years, the bank has shown a satisfactory growth in deposits & advances. The deposits, & advances of the bank stands at Rs.169 crore, & Rs.103 crore respectively as on 31st March, 2022, & the bank has posted a net profit of Rs.23.49 lakh as on 31.03.2022. The growth rate of the bank compares well that of others in the State. The bank has maintained a steady growth & profitability since its inception. Like previous years, our bank has been awarded as 2nd best Urban Banks of the State for the year 2021-22.

The Bank has launched different loan schemes tailor-made to suit the needs of various type of customers. The procedure for sanctioning of loans under various schemes that has been simplified and relaxed with a view to attract new customers and facilitating speedy sanction of loans. Similarly, the bank is providing investment opportunities to all sections of people in the form of ideal deposit schemes with attractive interest rates. All the six branches & the corporate office have been computerized on CBS platform to provide quality services to customers. In the coming years, the bank is committed to spread network of branches throughout the Kendrapara, Jajpur & Jagatsinghpur district and to provide much needed banking services to the people, who have been deprived of the banking facilities.

Innovative banking through CBS System is another area of operation that bank is currently focusing for sustainable long term growth. The bank has always endeavored for providing satisfactory customer service by the help of latest technology like RTGS/NEFT facility with utmost care for its customers and moving towards digitalization in the years to come. Our Bank is the first bank in the Urban Bank sector of the state to introduce ATM Card facility to its valued customers. Most importantly, the highly qualified & dedicated employees in co-ordination with well experienced & professional management team have recognized symbolized the bank, as an ideal & unique institution of the State. Moreover, the bank is acting as a life line for the socio-economic growth of the district over last 30 years in its functioning. We rejoice with the growth of the bank & the people benefited out of the services provided for & look forward to a better tomorrow by strengthening the cooperative movement working together.