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Tamil Nadu Grama Bank (TNGB) 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 Chennai.
TNGB Chairman S Selvaraj has in a statement said that the bank’s turnover touched ₹25,000 crore, and gross profit stood at ₹438 crore.
Net NPA is less than one per cent at 0.87 per cent to the total loan outstanding.
Besides offering banking services to the people in rural pockets, the bank is also sensitising them about the various government schemes, the Chairman said.
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