Telangana Grameena Bank net profit up 27 per cent to Rs 373.16 crore

Hyderabad: Telangana Grameena Bank recorded a net profit of Rs 373.16 crore for the year ended March, an increase of 26.9 per cent from Rs 293.9 crore. Advances grew 11.5 per cent increase to touch Rs 11,272.8 crore for the year ended March. They were Rs 10,103.7 crore in the corresponding period last year. The […]

Hyderabad: Telangana Grameena Bank recorded a net profit of Rs 373.16 crore for the year ended March, an increase of 26.9 per cent from Rs 293.9 crore.

Advances grew 11.5 per cent increase to touch Rs 11,272.8 crore for the year ended March. They were Rs 10,103.7 crore in the corresponding period last year. The deposits with it grew 9.2 per cent to touch Rs 11,039.7 crore for this March from Rs 10,109.15 crore last year. In all, the total business grew 10.3 per cent during the year.

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Gold loans stood at Rs 1,093 crore (Rs 967 crore last year). The housing loans stood at Rs 1,140.2 crore (Rs 987.6 crore last year). Its gross NPAs have increased to 2.39 per cent of the total advances from 2.25 per cent last year.

It has 39 lakhs customers and it is is concentrating on priority sector lending for improving the agricultural production, empowerment of women and promoting self-employment in rural and semi urban areas, according to its Chairman V Arvind.

It is also focused on personal, housing, education, vehicle and gold loans. All its branches are operating on core banking solution platform.It has introduced DISA mobile application recently for opening of savings bank account through Aadhar-based video KYC. The banks cross-sells SBI Life and SBI General Products, said a press release.

Government of India has a 50 per cent share in Telangana Grameena Bank, State Bank of India 35 per cent and Government of Telangana 15 per cent. It is operating in 18 districts of Telangana Sate and has 426 branches.

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