TSCAB profit up 31.38 % to 67.2 cr during FY 2020-21
The Hindu
It also records lowest NPA among all States
The Telangana State Cooperative Apex Bank has reported a profit of ₹ 67.20 crore during the just-concluded financial year 2020-21 in spite of the slowdowns caused by the outbreak of Coronavirus and subsequent lockdown. The bank’s profit was 31.38 % higher than the previous year’s ₹ 51.15 crore and it had also reduced its non-performing assets from 0.17 % to 0.14 % during the period. Since its formation in 2015, FY21 was the best performing year for the TSCAB as it has achieved all the targets set for the fiscal. In the process, the TSCAB set a record of sorts among the State cooperative banks registering the lowest NPA. The bank reported share capital collection of ₹ 230.64 crore marking 34.10 % growth over ₹ 171.99 crore of the year ago period. The total business during the fiscal stood at ₹ 13,268.91 crore, 22.33 % higher than the ₹ 10,847.15 crore during 2019-20.
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