THIRUVANANTHAPURAM: The Kerala Gramin Bank has clocked a total business of over `28,800 crore as on March 2017. Chairman of the bank Shaji K V said the total business by the bank touched an all-time high of `28,810 crore.
Of this, deposits constituted `15,075 crore and gross advances constituted `13,735 crore. The credit-deposit ratio was 91 per cent against the state average of 72 per cent. Shaji said they will open 20 new branches in the 2017-18 fiscal.
The target for total business is `38,000 crore by March 2018. The net profit of the bank in the previous fiscal was `103 crore while its client base exceeded 75 lakh. Around 91 per cent of the bank’s loans were to priority sectors with 61 per cent of the total loans for encouraging agriculture.
The bank distributed over 1.50 lakh Kisan Credit Cards to farmers and lent more than `858 crore as education loans to over 35,000 students. It offers most of the facilities offered by commercial banks like mobile banking, ATMs, RTGS/NEFT, debit and credit cards, mobile alerts, NRI business, share trading, life and non-life insurances, Western Union Money Transfer, Xpress Money Services, to name a few.
It also launched a ‘Digi KGB’ mobile application which offers ‘Selfie’ account opening and provides account-related information to customers.At present, the bank has 615 branches and 296 ATMs across the state. Shaji reiterated the bank’s stand it will not levy service tax from ATM users.