TSCAB’s extraordinary performance despite pandemic
Since the formation of TSCAB in 2015, the financial year 2020-2021 has been the best year for the Apex bank as it surpassed all the targets set during the fiscal yeal
Karimnagar: Despite Covid outbreak and subsequent lockdown, the Telangana State Cooperative Apex Bank (TSCAB) has performed extraordinarily and earned a profit of Rs 67.20 crore during the financial year 2020-2021 when compared to Rs 51.15 crore during the year 2019-2020, recording an increase of 31.38 per cent.
Since the formation of TSCAB in 2015, the financial year 2020-2021 has been the best year for the Apex bank as it surpassed all the targets set during the fiscal year. With only 0.14 per cent of gross NPA (non-performing assets), the TSCAB has set a record among all the state cooperative banks in the country with lowest NPA.
The TSCAB had recorded steady growth in share capital collection of Rs 230.64 crore during the financial year 2020-21 with growth rate of 34.10 per cent when compared to Rs 171.99 crore during the financial year 2019-2020. The bank had done a business of Rs 13,268.91 crore in the year 2020-2021 with growth rate of 22.33 per cent when compared to Rs 10,847.15 crore during the financial year 2019-2020.
The bank deposits increased from Rs 4,644.69 crore in the year 2019-2020 to Rs 5466.41 during the year 2020-2021 with an increase of 17.69 percent. The loans and advances had increased from Rs 6,202.46 crore in the year 2019-20 to Rs 7,802.50 crore in the year 2020-2021 with a growth rate of 25.80 percent.
The notable achievements was the reduction in gross NPA from 0.17 percent to 0.14 per cent. There was a tremendous increase in gold loans from Rs 530 core to Rs 662 crores registering an increase of Rs 132 crore. Similarly, as against the target under per employee business of Rs 24.96 crore, the achievement has been Rs 28.11 crore. Likewise, against the per branch business target of Rs 284.11 crore, the achievement was Rs 315.43 crore.
TSCAB managing director Dr Nethi Muralidhar said that the state Apex bank emerged the best and achieved its targets in all the parameters with the increase in business, share capital, deposits, loans and profits etc under the guidance of its chairman K Ravinder Rao and board of directors.
He attributed the extraordinary performance of the bank to the teamwork of the TSCAB and the support from the CEOs and DCCBs. The bank had set a target of doing business of Rs 16,000 crore during the year 2021-2022, he added.
TSCAB chairman Konduru Ravinder Rao said that there was good progress of the Apex bank, which was carved out in the year 2015 after the formation of Telangana state, due to excellent governance with professional management in a transparent manner. “Technically also we are the best cooperative bank in the country and providing all IT services such as internet banking and Cyber Security Operations Centre (C-SOC) 24×7 on par with any nationalised bank”, he stated.
Growth
- Business turnover increased from Rs 10,847.15 crore to Rs 13,268.91 crore with growth rate of 22.33 per cent
- Outstanding loans and advances increased from Rs 6,202.46 crore to Rs 7,802.50 crore with growth rate of 25.80 per cent
- Deposits increased from Rs 4,644.69 crore to Rs 5,466.41 crore with growth rate of 17.69 crore
- Gross NPA reduced from 0.17 per cent to 0.14 per cent which is the lowest among all the state cooperatives in the country
- Profits increased from Rs 51.15 crore to Rs 67.20 crore with growth rate of 31.38 per cent
- Gold loan outstandings increased from Rs 530 crore to Rs 662 crore an increase of Rs 132 crore during 2020-2021.
- Per employee business of Rs 24.96 crore has been increased to Rs 28.11 crore
- Branch business target Rs 284.11 crore increased to Rs 315.43 crore.
- Target for the year 2021-2022 is doing business of Rs 16,000 crore
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