Telangana State Cooperative Bank, under the leadership of Nafscob Chairman K. Ravindra Rao, achieved a business turnover of nearly Rs 21,000 crore as of March 31, 2024.
According to unaudited figures shared with Indian Cooperative by the bank, deposits grew from Rs 7,402 crore in the fiscal year 2022-23 to Rs 7,980 crore in 2023-24, while loans and advances increased from Rs 11,618 crore to Rs 12,974 crore as of March 31, 2024.
The bank’s net profit for the 2023-24 financial year experienced a slight decline from Rs 80.34 crore to Rs 63.08 crore. However, the net Non-Performing Assets (NPA) remained at ‘Zero’ this year, with gross NPA decreasing from 0.09% to 0.08% as of March 31, 2024.
The Capital to Risk-Weighted Assets Ratio (CRAR) and Credit-Deposit (CD) ratio of the bank stood at 10.14% and 162.58% respectively in the 2023-24 fiscal year.
The bank boasts a network of 45 branches. In Telangana, there are nine District Central Cooperative Banks (DCCBs) with a branch network of 371. Additionally, there are 827 Primary Agricultural Cooperative Societies (PACS), making Telangana perhaps the first state where PACS are fully computerized and the implementation of HR policy has been carried out in the PACS.
Following the reorganization of the State of Andhra Pradesh and the formation of Telangana in 2014, the Andhra Pradesh Cooperative Bank (APCOB) was reorganized into two State Cooperative Banks: Telangana State Cooperative Apex Bank Limited (Apex Bank) and the residual APCOB, serving Telangana and the remaining Andhra Pradesh respectively.
Both banks commenced independent operations on April 2, 2015.
