South India’s largest Gramin bank, Karnataka Gramin Bank, generated a business of ₹61,203 crore in FY22-23, against ₹57,210 crore in the previous year. During this year, its income grew by 1.74 per cent to ₹3,724 crore, and its net profits stood at ₹7.56 crore.

The bank reported a growth rate of 6.66 per cent in deposits to reach ₹33,905 crore (₹31,788 crore) . Its CASA grew by 9.68 per cent to ₹14,001 crore, while the share of CASA in total deposits improved from 40.16 per cent to 41.29 per cent over the previous year. Its credit portfolio grew by 7.38 per cent to ₹27,298 crore.

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Loans and advances

Priority sector advances, which make up 92.39 per cent of the bank’s total advances, grew by 6.63 per cent to ₹25,221 crore. Under agriculture advances, the bank recorded growth of 8.37 per cent, to ₹21912 crore. The credit growth was fueled by the growth of 25 per cent under KCC loans and 22 per cent under gold loans. The bank has reached an NPA of ₹3,451 with a y-o-y growth of 17.79 per cent.

The bank has disbursed loans to Kisan Credit Card borrowers to the extent of ₹4,132 crore, while it has disbursed loans of up to ₹2,103 crore to non-agricultural activities, noted G R Dilli Babu, Chairman, Karnataka Gramin Bank in a press release.

Karnataka Gramin Bank has a network of 1,121 branches across the State. The bank has set up five mobile ATM vans to deliver cash to people’s doorsteps in the Ballari, Kalaburagi, Raichur, Mysuru, and Chitradurga districts as part of an effort to expand its ATM operations in rural regions.