The Ottappalam Cooperative Urban Bank has won the Kerala Bank Excellence Award for the best urban bank in the State. Bank general manager C.P. Sarojini, chairman I.M. Satheesan and vice chairman P.M. Devadas received the award from Minister for Transport Antony Raju at a function held at Kovalam on Saturday.
The bank was chosen the second best urban bank in the State for 2020-21. It has been consecutively rated among the top few urban banks in the State since 2017.
Launched in September 1937, the bank got its RBI banking licence in August 1979. The bank had donated to the Chief Minister’s Disaster Relief Fund (CMDRF) ₹75 lakh during the floods, ₹40 lakh during COVID-19, and ₹12.32 lakh for COVID-19 vaccination.
Interest-free loans
The bank had offered oximeters and vehicles to help COVID-19 patients. Bank officials said that it was offering interest-free loans to poor students to buy mobile phones. The bank has a deposit of ₹566 crore and a credit of ₹331 crore.
The bank carries out a business of ₹891 crore through nine branches, including those at Lakkidi, Pathiripala, Mannur, Ambalapara, Ananganadi, Vaniyamkulam, and Koonathara.
