Kerala Gramin Bank's net profit at Rs 73.5 crore

The bank’s portfolio of net NPAs stood at Rs 399 crore in the last financial year against Rs 325 crore in the previous fiscal, bringing down the net NPA ratio at 2.09 per cent.

Published: 07th June 2018 04:03 AM  |   Last Updated: 07th June 2018 04:03 AM   |  A+A-

By Express News Service

THIRUVANANTHAPURAM: Despite the challenges of drought in nine out of 14 districts of the state, the Kerala Gramin Bank registered a record operating profit of Rs 304 crore in financial year 2017-18 as against Rs 202 crore recorded a year ago.

The net profit stood at Rs 73.46 crore. Addressing a press meet, Kerala Gramin Bank chairman Nagesh Vaidya the bank’s total business increased to Rs 31,658 crore, boosted mainly by the increase in the lending of various loans, chiefly the agriculture loan, to the farmers.

The bank’s portfolio of net NPAs stood at Rs 399 crore in the last financial year against Rs 325 crore in the previous fiscal, bringing down the net NPA ratio at 2.09 per cent. The deposits stood at Rs 15,338 crore and the gross advances were to the tune of Rs 16,320 crore. The credit deposit ratio stood at 106 per cent as against the state average of 74 per cent, he said.

Of the total loans, 63 per cent are under agriculture sector and the bank distributed more than 1.60 lakh Kisan Credit Cards during the fiscal. While the Bank distributed around Rs 2500 crore under government’s ‘housing for all’ scheme, it lent more than Rs 912 crore as education loan to more than 32,000 students.
The Bank is planning to open 10 more branches in the current fiscal and targets a total business of Rs 35,500 crore. Fresh loans to the tune of Rs 17,400 crore will be disbursed during the current fiscal year.

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