Comments
Andhra Pragathi Grammena Bank’s net profit increased 19 per cent at ₹206 crore in the financial year ended March 31, 2018, compared to ₹173 crore in the previous financial year.
According to the results announced by the Regional Rural Bank (RRB), the increase in profit was driven by a strong growth in its net interest income (NII), which grew by 41 per cent at ₹606 crore (₹429 crore).
The total business of RRB, sponsored by Syndicate Bank, achieved the milestone of ₹25,000 crore with zero per cent Net Non Performing Assets. The bank has a network of 549 branches spread over five districts of Andhra Pradesh – Anatapur, Kadapa, Kurnool, Nellore and Prakasam.
“The total networth of the bank stood at ₹2,074.38 crore as on March 31, 2018, which is highest among all RRBs in the country,” said A Venkata Reddy, Chairman.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.