22-September-2026
Malankara Credit Society Reaps a Profit of 5.61 Crore
Thrissur: The 18th Annual General Meeting of Malankara Credit Society was held on 22 September 2026 at IQ Academy, Mangalodayam Building, under the chairmanship of Sri. Jisso Baby, Chairman of the Society. Continuing its consistent record of profitability, the Society reported a profit of ?5.61 crore during the last financial year. In recognition of this performance, a 2% dividend was declared for its members, which was unanimously approved by the members present at the meeting. It is reported that the Society’s membership had increased to 112,648, which was 31% higher than last year.
Under the leadership of its promoter, boCHE (Dr. Bobby Chemmanur), Chairman and Managing Director of the Bobby Chemmanur International Group, Malankara Credit Society increased its business turnover to Rs. 1176.32 Crores which was 31.4% up from last year.
The AGM was attended by all the members of Board Top executives of Society and members from various corners of the states. The Gathering was welcomed by Sri. Thomas Koshy director and afterwards Dy. Ceo Sri. Sivaprash briefly elaborated last year performance and future action plans.
The Ministry of Cooperation, Government of India, authorizes the Society to operate in Kerala, Tamil Nadu and Karnataka. The Society currently operates 36 branches to serve more than 176,000 members. The Chairman stated that the Society’s objective is to achieve a business volume of ?25,000 crore within the next five years and to transform it into India’s number one cooperative movement in the cooperative sector.
Malankara Credit Society is the first multi-state credit society to introduce an innovative mobile application for its members, enabling them to access their financial transactions at their fingertips. Through this application, members can initiate deposit products services, transfer money immediately to any bank account in India and loan repayment and withdrawals from savings accounts.
Malankara Credit Society is the first society in Kerala to receive membership in the ICA (International Cooperative Alliance). The Society is also providing diamond jewelry loans which is also a unique loan product introduced first time in India. The Society is having 24/7 branch at Ulloor, Thiruvananthapuram which is offering credit services throughout the year.
The Society offers its members all types of loans products like, property loan, vehicle loans, a special two-wheeler loan exclusively for women, personal loans and self-help group loans at attractive interest rates. The Society also offers variety of deposit products tenure between 30 days to 25 years with most attractive interest rates to its members.
The Society's chairman, in his presidential address, emphasised the vision of the Society: 'To Disseminate Our Benevolence To Everyone, Everywhere and Always'. Vice Chairman Smt. Mariamma Pius delivered the vote of thanks in the meeting.