The Hindu Business Line : Malaprabha Grameena Bank H1 net up 21 pc

MALAPRABHA Grameena Bank, Dharwad, has registered a net profit of Rs 19.53 crore in the first six months of the current financial year compared to Rs 16.12 crore during the corresponding period of last financial year, registering a growth of 21.15 per cent.

A bank release said here on Tuesday that the bank has crossed a business of Rs 1,711 crore. The total deposits of the bank stood at Rs 890 crore and advances at Rs 821 crore.

It has set a target of mobilising Rs 1,100 crore of deposits and extending advances to the tune of Rs 925 crore during the current financial year.

The net NPA of the bank stood at 4.87 per cent of the total advance. The bank distributed 34,921 kisan credit cards in the first half of the current fiscal, and disbursed Rs 107 crore.

It has credit linked 5,394 self-help groups (SHGs) against the annual target of 2,950.

The release said that the bank has introduced "Mahila Abhaya Cash Certificate". In this, women members of SHGs get higher rate of interest on deposits.

It has also devised a loan scheme for the purchase of agricultural land, the release added.

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