Andhra Pradesh Chief Minister YS Jagan Mohan Reddy attended the Diamond Jubilee celebrations of Andhra Pradesh Cooperative Bank (APCOB) held at Vijayawada on Friday.
On this occasion, the Chief Minister unveiled the bank’s new logo and the APCOB Brand Identity Guidelines (BIG) book in the presence of a large number of prominent people including the bank’s person-in-Charge Smt. M Jhansi Rani, Managing Director Dr R S Reddy and others.
In his speech, the Andhra Pradesh CM lauded the efforts of the bank in uplifting the small and marginal farmers of the state. “The bank is on a growth path and catering to the financial needs of farmers through the cooperative model”, he added.
The bank presented a dividend cheque of Rs 55.93 crore to all 13 DCCB. It is said that for the first time the Chief Minister gave a dividend cheque to DCCBs representatives.
In the last four years, the total business of the DCCBs and APCOB have increased from Rs 53,249 crore to Rs 1,00,589 crore due to digitalization and professional administration, he remarked.
All the DCCBs in the state are now running with profits, except for Eluru DCCB. Reddy said, it is a matter of pleasure that Kurnool and Kadapa DCCBs have made profits after 36 and 28 years respectively.
The Chief Minister gave away awards to the CEOs and other officials of Krishna, Srikakulam, Nellore and Kurnool DCCBs for showing exemplary performance.
APCOB achieved a business turnover of Rs 36,732 crore and earned a gross profit of Rs 251.11 crore as on 31st March 2023. Besides, in 2022-23, the bank achieved success in achieving the ‘Zero’ net NPA.
