Telangana State Cooperative Apex Bank (TSCAB)'s gross profit increased 31 per cent at ₹67.20 crore during the financial year ended March 31,2021 as against ₹ 51.15 crore during the previous fiscal.
“Since the formation of TSCAB in the year 2015, the financial year 2020-21 has been the best year for the Apex bank as it surpassed all the targets set during the fiscal year,” the bank said in a release.
With only 0.14 per cent of gross Non-Performing Assets (NPAs), TSCAB had set a ‘record’ among all the state cooperative banks in the country with lowest NPAs, it added.
It also recorded steady growth in share capital collection of ₹ 230.64 crore during the financial year 2020-21 with growth rate of 34.10 per cent when compared to ₹ 172 crore during the financial year 2019-2020.
It had done a business of ₹13,269 crore in the year 2020-21 with growth rate of 22.33 per cent when compared to ₹10,847 crore during the financial year 2019-2020.
The deposits increased from ₹ 4,644.69 crore in the year 2019-20 to ₹ 5,466.41 during the year 2020-21 with an increase of 17.69 per cent.
The loans and advances had increased from ₹ 6202.46 crore in the year 2019-20 to ₹ 7,802.50 crore in 2020-21 with a growth rate of 25.80 per cent.
The bank had set a target of doing business of ₹ 16,000 crore during the year 2021-22.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.