TAMIL NADU

Central co-op bank registers highest profit

It has reported a net profit of Rs. 13.27 crore

Erode District Central Co-operative Bank has reported a net profit of Rs. 13.27 crore for the financial year 2009-10.

This is the highest profit registered by the bank since its inception, a release from Special Officer P. Loganathan has said.

In 2008-09, the bank posted a profit of Rs. 12.05 crore.

Deposits

The total deposits collected by the bank during 2009-10 had increased by 13.84 per cent to touch Rs. 700.79 crore.

The bank had extended loans to the tune of Rs. 699.59 crore, which was 12.55 per cent higher when compared to the previous fiscal.

The total value of the Non-Performing Assets of the bank had come down from Rs. 50.34 crore to Rs. 37.41 crore.

Mr. Loganathan said that the bank was expected to pay higher amount as dividend to its shareholders for the financial year ended on March 2010.

Recommended for you