Money & Banking

TS Cooperative Apex Bank FY21 profit up 31% at ₹67 crore

Our Bureau Hyderabad | Updated on April 05, 2021

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.

Published on April 05, 2021

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