25.4 C
Tura
spot_img

Tripura Gramin Bank records profit growth of 671.27%

Must read

Agartala, May 10: Tripura Gramin Bank (TGB), the sole rural bank in the state established in December 1976, has made a net profit growth of 671.27 percent for the fiscal year 2022-24, maintaining its streak of growth.

During the annual press meet held at the bank’s headquarters in Agartala, Satendra Singh, the chairman of TGB, accompanied by General Managers Shishir Kumar Rohatgi and Santosh Kumar Rawat, revealed the bank’s profit statement and business reports for the year 2023-24.

Advertisement

Singh stated that the bank has recorded an operating profit of Rs. 153.04 crores and a net profit of Rs. 27.92 crores as of March 31, 2024.

These figures represent a remarkable growth of 547.93 percent and 671.27 percent, respectively, compared to the previous fiscal year.

Highlighting the bank’s lending activities, Singh disclosed that TGB disbursed a significant amount of Rs. 2192.64 crore under various lending schemes during the same financial period.

The bank has reported a net NPA, with the gross NPA reduced to Rs. 168.94 crore, marking a decrease from 5.10 percent to 4.69 percent.

Advertisement

Singh stated that TGB’s per branch business surged to Rs. 82.66 crore in the last fiscal year from Rs. 76.16 crore, while per employee business also saw an uptick to Rs. 13.96 crore from Rs. 12.85 crore during the same period.

Emphasizing the bank’s commitment to financial inclusion, Singh underscored TGB’s pivotal role in catering to the rural areas where other banks are less prevalent. Operating across all the eight districts of Tripura, TGB has 150 branches and 121 business correspondent (BC) agents, serving customers through 439 BC points.

Additionally, the bank recently introduced its innovative initiative, the first solar-powered TGB on wheels, providing essential banking services and ATM facilities to remote areas.

Read: DC convened grievance redressal meeting

WATCH:

Find latest news from every corner of Northeast India at hubnetwork.in, your online source for breaking news, video coverage.

Also, Follow us on-

Twitter-twitter.com/nemediahub

Youtube channel- www.youtube.com/@NortheastMediaHub2020

Instagram- www.instagram.com/ne_media_hub

spot_img

More articles

spot_img
-->

Latest article