Erode Central Coop Bank earns Rs 13.27 cr profit

Erode, Jan 29 (PTI) The Erode District Central CooperativeBank earned a profit of Rs 13.27 crore for 2009-10.

During 2009-10, a sum of Rs 149.20 crore has been grantedas crop loan, Rs 112.40 crore as loans to weaver�scooperatives, Special Officer cum Managing Director of thebank P. Loganathan in a release said today.

In addition to this, the bank had granted Rs 501.16 cr ascrop loan to the 973 joint sector committees in the district.

This was the highest advanced by a cooperative bank in thestate, he claimed.

The bank�s annual business had increased to Rs 1,565crore and the recovery rate for the loans advanced was at anappreciable level.

The bank provided eight per cent dividend to its membersand for 2010-11, it was resolved to grant 9.5 per centdividend.