The District Central Cooperative Banks (DCCBs) of Tamil Nadu achieved a remarkable performance in 2023-24, with their business exceeding Rs 93,000 crore.
These banks performed well across most financial parameters, except for a decline in profit, which fell from Rs 329 crore in 2022-23 to Rs 270 crore as of March 31, 2024.
The deposits of the banks increased from Rs 39,572 crore in 2022-23 to Rs 41,092 crore in 2023-24, while advances grew significantly from Rs 44,752 crore to Rs 52,520 crore as of March 31, 2024.
The business mix of the bank increased from Rs 84,324 crore in 2022-23 to Rs 93,612 crore in the 2023-24 FY.
As of March 31, 2024, the 23 DCCBs operated with a network of 927 branches, and 4,521 Primary Agricultural Cooperative Societies (PACS)affiliated with these banks. The share capital of the DCCBs stood at Rs 2,321 crore.
Interestingly, all DCCBs in the state reported profits. The Chennai District Central Cooperative Bank recorded the highest profit of Rs 40.17 crore, while the Tirunelveli District Central Cooperative Bank reported the lowest profit of Rs 1.07 crore in the 2023-24 financial year.
In terms of branch networks, Tiruchirapalli has the highest number of branches, with 75, while the Nilgiris has the lowest, with 22 branches, as of 2023-24.
