The Erode District Central Cooperative Bank earned a profit of Rs 13.27 crore for 2009-10.During 2009-10, a sum of Rs 149.20 crore has been granted as crop loan, Rs 112.40 crore as loans to weavers cooperatives, Special Officer cum Managing Director of the bank P. Loganathan in a release said.
In addition to this, the bank had granted Rs 501.16 cr as crop loan to the 973 joint sector committees in the district.
This was the highest advanced by a cooperative bank in the state, he claimed.
The banks annual business had increased to Rs 1,565crore and the recovery rate for the loans advanced was at an appreciable level.
The bank provided eight per cent dividend to its members and for 2010-11, it was resolved to grant 9.5 per cent dividend.