AP StCB's Record Business Growth in Covid FY

The southern apex level bank is planning expansion in its branches and ATMs in the current FY:

The A.P State Co-operative Bank (APCOB), as the scheduled bank is at the apex level in Andhra Pradesh. The bank has 16 branches, dispensing credit through the 418 branches of 13 district co-operative central banks (DCCBs), to the 1992 PACS at the village/ground level, which in turn cater to the credit and non-credit needs of their farmer members.

Under the single window credit delivery system, it is providing refinance both for long-term and short-term credit through DCCBs. Dr. R. Shreenath Reddy, Managing Director, updates: “The total business of the bank has increased by an all-time high growth rate of 34.96% to ₹210.49 billion as on 31 March 2021. Deposits have shot up by 38.36% to ₹52.24 bn. The business per employee improved and stood at ₹873.4 mn.”

MOBILIZING DEPOSITS