Money & Banking

TN Grama Bank posts net of ₹150 crore in first year

Our Bureau Coimbatore | Updated on July 19, 2020

TNGB Chairman S Selvaraj

Tamil Nadu Grama Bank (TNGB) has clocked a net profit of ₹150 crore in its first year of operation.

The Salem-headquartered bank is an amalgamated entity of Pallava Grama Bank and Pandiyan Grama Bank and is sponsored by Indian Bank.

TNGB has a network of 632 branches across the State, except in Chennai.

TNGB Chairman S Selvaraj said in a statement that the bank’s turnover touched ₹25,000 crore, and the gross profit stood at ₹438 crore.

Net NPA is less than one per cent at 0.87 per cent of the total outstanding loans.

Besides offering banking services to the people in rural pockets, the bank is also sensitising them about the various government schemes, the Chairman said.

Published on July 19, 2020

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