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The Dharwad-headquartered Karnataka Vikas Grameen Bank registered a net profit of ₹155 crore during 2014-15 as against ₹140 crore in 2013-14, recording a growth of 10.71 per cent.
This profit was aided by 23.15 per cent increase in income. The total income increased to ₹1,272 crore in 2014-15 from ₹1,033 crore in 2013-14. The bank’s treasury income increased to ₹416 crore as against ₹272 crore.
The operating profit of the bank touched ₹201 crore (₹190 crore).
Ashok Reddy, Chairman of the bank, said that the business level of the bank increased to ₹17,145 crore in 2014-15 as against ₹15,074 crore in 2013-14. The bank wants to achieve a total business of ₹20,000 crore during 2015-16.
The total deposits of the bank increased to ₹9915 crore (₹8629 crore). Of this, the share of CASA (current account savings account) deposits stood at 50.6 per cent.
The total advances of the bank stood at ₹7230 crore (₹6445 crore) during the year.
At the end of March 31, credit-deposit ratio of the bank stood at 72.92 per cent.
During 2014-15, the priority sector credit stood at ₹6165 crore. Of this, the share of agricultural credit was ₹4,482 crore.
A press release by the bank said here that the gross NPA of the bank stood at 2.96 per cent to the total advances, and the net NPA at 1.74 per cent.
At the end of March 31, the bank had 576 branches and three extension counters. It has three all-women branches and one exclusive MSME branch. The bank has a target to achieve a network of 635 branches by March 31 2016, it said.
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