APCOB adjudged best state cooperative bank

Vijayawada: The Andhra Pradesh State Cooperative Bank (APCOB) has been adjusted the best bank for its overall performance the year 2021-22, according to Dr R Shreenath Reddy, managing director of APCOB.

He said in a statement here on Tuesday that every year National Federation of States Cooperative Banks (NAFSCOB) presents the awards to the best performing state cooperative banks as well as the district central cooperative banks (DCCBs) who have shown outstanding performance at the national level.

The APCOB bagged the first prize for 2021-22 for its overall best performance among state cooperative banks across the country with a business turnover of Rs 30,587.62 crore with a growth rate of 45 per cent. The APCOB earned a gross profit of Rs 242.82 crore that year. For the earlier year of 2020-21 also, the APCOB secured second prize with a business turnover of Rs 21,049.63 crore with a growth rate of 35 percent. It had earned a gross profit of Rs 200.37 crore that year.

The general body meeting of NAFSCOB which met at Jaipur in Rajasthan on Tuesday with its chairman K Ravindra Rao in chair and managing director B Subrahmanyam presented the prizes to the winners.

M Jhansi Rani, chairperson and Dr R Shreenath Reddy, managing director of APCOB received the prizes at a glittering function in the presence of the delegates of all state cooperative banks across the country.