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Karimnagar DCCB nets ₹51 crore for 2020-21

Our Bureau Hyderabad | Updated on April 04, 2021

The Karimnagar District Cooperative Central Bank (DCCB) has posted a profit of ₹51.12 crore for 2020-21, up from ₹35 crore it registered during 2019-20.

Inspite of a tough year due to Covid-led lockdown, the bank has brought down its non-performing assets (NPA) from 2.15 per cent in 2019-20 to 1.75 per in 2020-21, according to a statement.

With 67 branches, the DCCB collected deposits of ₹1,903 crore, a growth of 16.03 per cent and the loans and advances were at ₹2,070 crore — an increase of 15.96 per cent. The bank achieved a business of ₹3,973 crore against the target of ₹4,000 crore.

During 2020-21, the bank provided loans of ₹1,177.69 crore for the farm sector against the target of ₹980 crore. Despite financial crisis, the DCCB opened six new ATMs during the 2020-21, taking the total ATMs to 32 in the district. The bank had proposed to open five new branches during this financial year in Koheda, Manthani Mutharam, Chandurthi, Thunguru and Veernapalli in the integrated Karimnagar district.

Published on April 04, 2021

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