Sunday, June 28, 2020

Grameena bank registers growth in business

The business of the Sapthagiri Grameena Bank Board has improved from ₹11,470 crores as on February 31, 2019 to ₹12,681 crore as on March 31, 2020 and recorded 10.57 percent growth rate, according to the bank’s chairman M. Mahesh Babu.

During the same period, deposits improved from ₹5,750 crores to ₹6,523 crores and advances from ₹5,719 crores to ₹6,158 crores. Gross profit has increased from ₹230 crores to ₹283 crores, with 23% growth rate.

The net profit posted a hike from ₹101crores to ₹130 crores with 29% growth rate. Gross NPAs were reduced from ₹95.26 crores to ₹93.54 crores. The Gross NPA level is now 1.52% of the total advances, and net NPA level continued to be at zero level. The CRAR level improved from 12.76 to 14.10 .

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