Business Daily from THE HINDU group of publications
Friday, May 11, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, May 11, 2007 ePaper |
|
|
|
|
|
|
|
Corporate Results
-
Regional Rural Banks Money & Banking - Financial Performance States - Karnataka Pragati Gramin Bank net up 30.89% Our Bureau
Mangalore May 10 The Bellary-headquartered Pragati Gramin Bank - a regional rural bank (RRB) sponsored by Canara Bank - has registered a net profit of Rs 55.21 crore during 2006-07 as against Rs 42.18 crore in the previous fiscal, recording a growth of 30.89 per cent. Quoting the Chairman of the bank, Mr Vincent J. D'Silva, a bank release said here on Thursday that all the 351 branches of the bank have recorded profits during the year. The bank has set a target of earning a profit of Rs 75 crore during the current fiscal. The bank reached a business of Rs 4,031.48 crore in 2006-07 (Rs 3,257.43 crore). The total deposits of the bank stood at Rs 2,006.19 crore (Rs 1,642.94 crore) and advances at Rs 2,025.29 crore (Rs 1,614.49 crore). The bank has set a target of achieving Rs 5,000 crore business by the end of March 2008. The Gandhinagar branch of the bank in Bellary did a business of Rs 108.09 crore last fiscal. This has become the first RRB branch to achieve this feat in southern India, the release said. The gross NPA of the bank stood at 4.06 per cent and net NPA at 2.29 per cent. As many as 15 branches have nil NPA accounts, it said. The bank, which has a customer base of 21.94 lakh, is planning to take the number to 25 lakh during the year. The release said that the bank is also planning to open nine branches and 25 ATMs during the current fiscal. The Pragati Gramin Bank was formed in September 2005 after amalgamating Tungabhadra Gramin Bank, Chitradurga Gramin Bank, Kolar Gramin Bank and Sahyadri Gramin Bank. The Pragati Gramin Bank covers Bellary, Raichur, Chitradurga, Davangere, Koppal, Kolar and Shimoga districts in Karnataka.
More Stories on : Regional Rural Banks | Financial Performance | Karnataka
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|