The Hindu Business Line : Malaprabha Grameen Bank farm credit disbursal doubles in 2004-05

THE Dharwad-based Malaprabha Grameen Bank — which has 243 branches in Dharwad, Haveri, Gadag and Belgaum districts — registered a growth of 99.55 per cent in its agriculture credit portfolio during 2004-05. Syndicate Bank sponsors this regional rural bank.

Quoting Mr B.S. Surendra, Chairman of the regional rural bank, a release said here on Friday that the bank disbursed Rs 192.63 crore during 2004-05 as against Rs 96.53 crore in the previous financial year, registering a growth of 99.55 per cent.

The bank credit linked 5,347 self-help groups (SHGs) with an outlay of Rs 19.77 crore, surpassing the Nabard target of 2,900 SHGs.

More than 81,000 poor families are covered under this scheme.

The total NPAs of the bank stood at 5.22 per cent of the total advances. The net NPA came down from 6.40 per cent in 2003-04 to 3.04 per cent during the last fiscal.

The bank recorded a business of Rs 1,919 crore during 2004-05 as against Rs 1,545 crore in the previous fiscal, registering a growth of 24 per cent. It earned an operating profit of Rs 65.07 crore and a net profit of Rs 46.42 crore last fiscal.

The bank, which has set a target of achieving a business of Rs 2,360 crore during the current financial year, plans to open 12 more branches.

During the year, it wants to network a few branches in major centres. It has computerised all its 243 branches in four districts. The bank wants to introduce ATM counters in a few centres on an experimental basis, the release added.

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