The APCOB was formed with the amalgamation of Andhra State Cooperative Bank Limited, Vijayawada and Hyderabad Cooperative Apex Bank Limited, Hyderabad and started operations with effect from 4th August 1963.

          The Loan portfolio of APCOB covers Crop Loans, Medium Term Loans and Long Term Loans for Agricultural purposes.  Substantial support is being extended to the Government sponsored schemes, District Rural Development Agency Projects and also to Cooperative Sugar Factories, Cooperative Spinning Mills, Weavers Cooperative Societies, Employees Cooperative Credit Societies and other Cooperative Societies.  It is also extending finance to many Apex Cooperative Institutions in the State like A.P. Handloom Weavers Cooperative Society, A.P. State Cooperative Marketing Societies Federation Ltd., Girijan Cooperative Corporation Ltd., etc.,

          As part of the Single Window Credit Delivery System introduced in the State at the District Level in the year 1987, the Andhra Pradesh State Cooperative Central Agricultural Development Bank Ltd., (APCCADB) which was hitherto providing investment Credit was merged with the APCOB with effect from 30th April 1994.

          The APCOB extends Short Term Loans for Agriculture, Long Term Loans for investments besides extending incidence to all Kisan Credit Card Holders.  It disbursed an amount of Rs. 2200.00 Crores under Crop Loans as on 31st March, 2008.  The Bank disbursed Rs. 112.00 Crores under Long Term Loaning upto 31st March 2008