Balasore Co-operative Central Bank Ltd, presently renamed as Balasore Bhadrak Central Co-operative Bank Ltd, Balasore, started its functioning on the first June of 1916 with a working capital of Rs. 28,863.16 having only seven affiliated societies and in the year 1956, Bhadrak Central Co-operative Bank was amalgamated with Balasore C.C.B commencing its operation with a share capital of Rs. 3.29 lakhs and deposit of Rs. 7.76 lakhs during 1956-57.The bank has grown substantially and as on 31st March'2007, the working capital of the bank reached Rs. 633 crores with a deposit base of 361 crores.The bank has issued 3,67,104 Kissan Credit Cards to the farmers of Balasore and Bhadrak district and disbursed loan to them for agriculture and other purposes. Apart from agriculture finance, the bank has forayed into financing industrial sector, housing sector and other types of finance according to the needs of the customer. The bank has extended its banking network through 30 branches, 249 PACS and 2 LAMPCS operating in 19 blocks in Balasore and Bhadrak district.to compete with recent technology adopted by the Nationalized Banks and Private Sector banks, bank has computerized 30 branches and 59 PACS in village areas for providing computerized customer service. The bank has earned a net profit of Rs. 227.95 lakhs in the year 2006-07 and Declared dividend to its share holders.

In order to create a good recovery climate, bank has prepared incentive scheme for the KCC holders and allowing 0.05% interest rebate to the farmers who repay their loan on or before the due date.

The bank has introduced a new scheme named "Kitchen Kits" to the spouse of KKSC and KKGC holders to create awareness among the rural people to save forest.

Bank has decided to computerize all its 97 mini banks in a phased manner and as on 31st December '2007.59 mini banks are providing computerized customer service in the remote areas.

The bank is organising training in different blocks to the farmers of Balasore and Bhadrak district on betel vine cultivation, banana plantation, formation of SHG/TFG etc.

Agriculture, banking and Co-operatives-the mainstay of rural India with its vast chunk of farmers-have made rapid strides in Balasore, the granary of Orissa and Balasore Bhadrak Central Co-operative Bank(B.B.C.C.B.), Balasore has gone a long way in combining the three into one.

Although the first Co-operative society in the district was formed in 1907, it took almost a decade for registration of the Balasore Bhadrak Central Co-operative Bank Ltd.After its registration on 9th February'1916, the bank started functioning from first June of 1916 having only seven affiliated societies. During the year, it mobilized deposit of Rs. 16,248/- and issued loans through the societies aggregating to Rs. 17,618/- for the purpose of cultivation, purchase of cattle and believe it or not, for marriage in some cases. It had borrowed Rs. 10,000/- from the erstwhile Bihar and Orissa Provincial Co-operative Bank to support all those activities.In the very first year of operation, it earned a net profit of Rs. 581.13 and paid dividend of 9.38% to its share holders.

After independence, as per recommendation of the All India Rural Credit Survey Committee, BhadrakC.C.B was amalgamated with this bank in 1956.Subsequently in 1957-58, it took the agency of Orissa Provincial Co-operative Land Mortgage Bank (OSCARD Bank) to advance long term loans to the members of its affiliated PACS.

At present, Balasore Bhadrak Central Co-operative Bank Ltd. has extended its banking network to 30 branches, 249 PACS and 2 LAMPCS operating in the 19 blocks of Balasore and Bhadrak district catering to all types of credit needs of rural farmers and urban population.

Commencing its operations with a share capital of Rs. 3.29 lakhs and a deposit of Rs. 7.76 lakhs, the bank has grown substancially.As on March'2007, the share capital of bank stood at Rs. 3320.29 lakhs as against total deposit of Rs. 26190.00 lakhs.Similarly, working capital of the bank has reached Rs. 63331.27 lakhs and the loan outstanding stands at Rs. 43792.60 lakhs.This includes loans issued for different purposes to its affiliated societies and individual members.

Apart from agricultural finance, the bank has forayed into financing in industrial sector, housing sector and other types of finances like consumer durables, vehicles etc to cater to the present day needs of the public.To promote rural resource mobilization, the bank has opened 97 numbers of mini banks at selected PACS to mop up rural surplus as a result of which a sizeable amount of deposit to the tune of Rs. 9700.00 lakhs has been mobilized.With the support of software engineers of OSCB, 59 mini banks are providing computerized customer service to the rural customers to compete with the technologically advanced commercial banks and a programme has been drawn to computerizes the remaining mini banks in a phased manner.