KANNUR: Kerala Bank has achieved its best financial performance since its inception, reporting a net profit of Rs 209 crore for the 2023-24 fiscal year. With a total business volume of Rs 1,16,580 crore and a customer base of 75,73,516, the bank has solidified its position as a major player in the cooperative banking sector
The bank’s elected Board of Directors, formed on November 29, 2019, has completed four successful years and is now entering its fifth year with ambitious growth plans.
Agriculture loans currently constitute 25% of Kerala Bank’s total lending portfolio, and the bank plans to raise this to 30% in 2024-25 and 33% in 2025-26. Additionally, the bank supports 1,41,765 micro, small, and medium enterprises (MSMEs) through various employment-generating loan schemes.
To enhance MSME growth, Kerala Bank offers 10 specialised schemes, including Vyapar Mitra Loan, Ksheera Mitra Loan, and Suvidha Loan. Women entrepreneurs are also a priority, with 10 exclusive loan schemes designed for their needs.
Kerala Bank is advancing digital transformation through its KB PRIME and KB PRIME PLUS applications, offering modern banking services, including UPI functionality, to individuals and institutions. Notably, the bank provides cooperative sector customers with the same digital banking services as commercial banks without hidden charges or minimum balance requirements.
Kerala Bank is attracting depositors with one of the highest fixed deposit interest rates in the market.