Tripura Cooperative Bank sees 6.93% growth in total business, plans for branch expansion

Agartala: Tripura State Cooperative Bank Limited has witnessed significant growth in the overall performance including the total business which has witnessed 6.93 % growth in the last one year.

Speaking with Business North East, Bhajan Chandra Ray, Managing Director of Tripura State Cooperative Bank Limited said that TSCB is an Apex level Co-operative Bank functioning under the two- tier cooperative credit structure in the state of Tripura.

“The bank was established on 21.01.1957 and received the schedule status from RBI in the year 2018. Over the last 67 years, the bank has been working towards the economic development of the people of Tripura”, he said.

The official said that TSCB in 2022-23 has witnessed business of Rs 5751.41 Crore while in 2023-24 it is Rs 6150 Crore which increased by 6.93 % growth, in total deposit the bank recorded Rs 3238 Cr in previous year while this year it is Rs 3413 Crore, in Net profit it the bank recorded in 2022-23 it was 22.31 Crore while 2023-24 it is 27.95 Crore and growth rate is 25.28%.
Bhajan Chandra Ray, Managing Director also informed that in 2022-23 the CD ratio was 77.57 % which stood now at 80.16 % increased by 3.34%.

He informed that Tripura is having two-tier cooperative credit structure. In the apex structure, it is the Tripura State Cooperative Bank and 268 LAMPS & PACS are in the grass root level (56 LAMPS & 212 PACS).

“The bank is dedicated to improve the quality of life of the people of Tripura in general and that of the farmers in particular. The Bank has been rendering banking services through its 66 bank branches spread all over Tripura state. It has covered all the sub divisional headquarters with its brick & mortar branches", he said.

The official also informed that TSCB has received a Special Commemorative Award from NABARD for Overall Performance in Year 2020-21 (next to Gujrat, Telangana).

The MD informed that the recruitment process will start after Laxmi Puja and planning to open more 16 branches of the bank across the state.