Erode Dist Central Coop Bank earns Rs 13 cr profit

The Erode District Central Cooperative Bank Ltd has earned a profit of Rs 13.25 crore for 2009-2010 against Rs 12.05 crore made during the last fiscal, bank sources said.

During 2009-2010 fiscal the share capital of the bank, with 28 branches, had increased to Rs 27.11 crore, an increase of 11.48 per cent compared to previous fiscal, P Loganathan, Managing Director of the bank said in a press release here today.

The deposits have increased to Rs 700.79 crore during the fiscal ending March showing an hike of 13.94 per cent than previous financial year, he said year.