In recognition of excellent performance the Balasore Bhadrak Central Co-operative Bank Ltd., has received best performance award for the year 2006 from Orissa State Co-operative Bank and Orissa State Cooperative Union and Best Cooperative Bank award for the year 2006 from State Government for outstanding performance on SHG formation and linkage. Once again the Balasore Bhadrak C.C.B. Ltd. for the year 2006-07 has been adjudged as the best performing Central Cooperative Bank in the State.

Fully computerized customer service is provided in all the 30 Branches of the bank along with its Head Office which has not been accomplished in any other C.C.B. of the State except O.S.C.B. Out of 97 Mini Banks PACS, computerized customer’s service is being provided in 59 Mini Bank PACS.

Out of total finance of Rs.39.38 Crores made by all CCBs of the State under Agriculture term lending during the 2006-07, the Balasore Bhadrak Central Co-operative Bank Ltd. had financed Rs.18.32 Crores which is 47% of the total finance. Under Agril. Term lending, Bank has financed for Pisciculture to the tune of Rs.4.58 Crores to 1903 borrowers which is highest in the State.

The Balasore Bhadrak Central Co-operative Bank Ltd. had advanced loan of Rs.96.98 Lakhs for cultivation of Sun flower in 1359 acres in Bhadrak District as a first step for diversification of traditional crop.

The SHG Bank-linkage has created a marked impact in the rural areas. On the basis of Bank’s performance in formation of SHG, Bank has been appointed as Self Help Promoting Institution by NABARD to create awareness among SHG members and public in general for upliftment of the Economic standard of the bottom poor.

The Bank is publishing a quarterly news magazine “Jagruti” which is being circulated to SHG and different institutions to high light the success of different SHGs. With a view to concentrate in promoting the SHG and substantial Growth information and linkage, the Bank has created a separate Cell and has posted an Officer designated as Nodal Officer Micro Finance Division to nourish and care the SHGs on both the District and to make strategies for promoting them.

The comparative financial position of the Bank for last two years is given here under:

SHARE CAPITAL
Bank’s Share Capital position has reached at Rs.3538.87 Lakhs as on 31.3.2008 as against last year position of Rs.3320.29 Lakhs. The growth rate of Share Capital is 6.16% during the year’s 2006-07.

OWN FUND
The Bank’s own fund position stands at Rs.4666.65 Lakhs as on 31.3.2008 as against the last year’s position of Rs.3892.35 lakhs. The growth rate during the year 2006-07 is 19.89%.

BORROWINGS
Borrowing outstanding of the Bank as on 31.3.2008 stands at Rs.20861.82 lakhs as against the last year’s position of Rs.21126.44 lakhs.

DEPOSIT
Total Deposit of the Bank which stood at Rs. 29902.28 lakhs as on 31.03.2007 has increased to Rs.34740.81 lakhs as on 31.03.2008 registering a growth rate over 11.46%.

LOAN ISUSED
The Bank has issued loan to the tune of Rs.39440.28 lakhs during 2007-08 against the last year position of Rs.39235.79 lakhs. The percentage of growth rate is 2.80% over the year 2006-07.
The Bank issued crop loan to 182436 numbers of KCC holders for Rs.26005.77 lakhs as against last year position of Rs.25833.60 lakhs to 189084 numbers of KCC members.

LOAN OUTSTANDING
Loan outstanding position of the Bank as on 31.3.2008 has reached Rs.47213.90 lakhs as against the last year position of Rs.43792.60 lakhs. The percentage of growth rate is 8.96%.

NON- FUND BUSINESS
The Bank has been making a steady growth in Non-fund Business by tie-up arrangement with other private sector Banks and could be able to earn additional income of Rs.101.67lakhs in the year 2007-08 as against last year position of Rs.66.49 lakhs in the year 2006-07. The growth in Non fund business is recorded 52.91%.

INVESTMENT
The Bank has invested Rs.14469.02 lakhs with State Co-operative Bank during the year 2007-2008 against the last year’s investment position of Rs.13128.64 lakhs. The investment growth rate is 15.50 %.

COST OF MANAGEMENT
The Cost of Management to Working Capital is 1.54% during the year 2007-08 against 1.55% during 2006-07.

WORKING CAPITAL
The Working Capital of the Bank has reached at Rs.73475.65 lakhs during the year 2007-08 against the position of Rs.63331.27 lakhs during 2006-07 registering growth rate of 16.01%.

RECOVERY OF LOAN
Bank’s achievement in recovery of loan during the current year 2007-08 is 66% under principal and 85% under interest.

ISSUE OF KCC
Bank has issued K.C.C. to 403469 members during 2007-08 registering 9.90% growth over the last year’s position of 367104 members.

PER EMPLOYEE BUSINESS
The per employees’ business of the Bank has increased from Rs.298.35 lakhs in the year 2006-2007 to Rs.281.37 lakhs in the year 2007-08.

BRANCH PRODUCTIVITY
The per branch productivity has increased from Rs.2456.49 lakhs in the year 2006-07 to Rs.2719.95 lakhs during the year 2007-08.

Despite of stiff resistance from the loanee members in implementation of debt waiver scheme, the Bank has been able to disburse Rs.8015.35 Lakhs to 57065 numbers of Members during the current Khariff season as on 15.08.2007 as against total target of Rs. 16000.00 Lakhs.

BEST PRACTICE FOLLOWED BY THE BANK

The Bank has implemented scheme for financing soft loan to family members of KKGC holders for purchasing cooking gas connection and kitchen kit.

The Bank has introduced fair lending practice for disposal of loan proposals within 21 days. The telephone numbers of important functionaries of the Bank are displayed in every Branches/ PACS for quick redressal of grievances of the customers.

The Bank has adequately empowered its Branch Managers for ensuring quick disposal of loan cases. The Bank has implemented Life Insurance Scheme under Housing loan covering the full amount of advance.

The Bank has been providing regular training to all categories of its employees for change in their attitude, knowledge and skill up gradation. During last three years 90% employees of the Bank have been trained in different functional areas in R.T.C., NABARD, Bolpur, BIRD, Lucknow, VAMNICOM and C.A.B. (RBI), Pune in addition to various in house training programmes organized by the Bank from time to time.

The Bank has submitted a proposal for Rs.10912.20 lakhs under Debt Waiver and Debt Relief Scheme duly audited by the Chartered Accountants and the loan accounts of the loanees have been credited on 30.06.2008.

The Bank has ensured proper house keeping and its books of accounts including Inter Branch reconciliation has been made up to date, which could not have been possible without full computerization of all its branches and Head Office.

BANK’S DEVELOPMENT INITIATIVES

1. Highest Interest rate @10.65% for Senior Citizen for their Term Deposit of 555 days

2. A soft loan for kitchen kits amounting Rs. 5000/- to Spouse ( wife of K.K.G.C. holders).

3. Personal Accident Insurance Scheme for all KCC Borrowers and SHG Members for Rs.50,000/-

4. Dedicated Micro Finance Division Cell to look after promotion and credit linkage to S.H.G/ T.F.G.

5. Mobile Handset to Farmers for better communication on developed cultivation through 10 free S.M.S.

6. Capacity building Training Programme for PACS functionaries for revitalization of Rural credit structure in view of V.C.R.

7. Training Programme for Board of Directors of PACS in view with V.C.R.

8. Continuous Training to all staff members for skill development.

9. Total Computerization of H.O., all Branches including 59 PACS.

10. Own Web-site www.dccb-balasore.com of the Bank having information about the Bank with banking performance indicators, deposit & loan schemes with downloadable account opening & loan application forms.

11. Internet / e-mail / Fax .facility in all Branches for quick redrassal of customer grievances, faster cheque collection and other communication.

12. Preparation of corporate G.L./ Day Book of the Bank on day to day basis by capturing of data of all Branches through e-mail.

13. Demand Draft facility for customer on all important center of the Country.

The Bank has been implementing Non-fund business by issuing D.D./ At Par Cheques on all important Cities/ Towns of the Country since the year 2004-05 and could be able to earn additional income of Rs.36.80 lakhs, Rs.39.88 lakhs, Rs.66.49 lakhs and Rs.101.67 lakhs in the year 2004-05, 2005-06, 2006-07 and 2007-08.

Bank has opened 108557 number of Savings Bank Accounts during a period of 3 months under financial inclusion programme of NABARD/ Government out of the above, 44905 numbers of No Frill Accounts has also been opened and present the Bank has taken up the programme “Cooperative at your door step” to bring all the Agril. Families to Cooperative fold with a view to open at least 3 lakhs Savings Bank accounts within 30.09.2008.