Government of Tamil Nadu
Tamil Nadu Industrial Cooperative Bank Ltd.,

 

                      At a time, when the Cooperative Banks functioning under the control of the Cooperative Department were hesitant to extend sufficient loans to the Industrial Cooperative Societies which were transferred from the Cooperative Department in the year 1956, to the control of this Department, the Tamil Nadu Industrial Cooperative Bank, known as TAICO Bank was established on 18.9.1961, with object of providing loans to the Industrial Cooperative Societies. The Bank having its Head quarters at Chennai is functioning through out Tamil Nadu with its 44 branches. The Bank has 419 members with a paid up share capital of Rs 8.28 crores, which includes the Government share participation of Rs.4.68 crores.

                        During 2015-16 the TAICO Bank has mobilized deposit to the extent of Rs.1005.83 crores  and extended various loans and advances to the extent of Rs.437.22 crores. Besides, the TAICO Bank is extending jewel loans, housing / house mortgage loans to the General Public, personal loans to the Government employees of all sectors, short term loans and over draft facilities to SSI and tiny units etc.

The performance of TAICO Bank for the past years is as follows:
                             
 (Rs. in crores)


Year

Fixed Deposit

Loans and Advance

Profit / Loss During the year

2012-13

969.25

632.92

(+)9.40

2013-14

1024.38

590.71

(+)14.87

2014-15

994.62

538.65

(+)5.88

2015-16

1005.83

437.22

(+) 6.07

2016-17

1012.09

477.60

(+) 5.58