Karnataka Vikas Grameen Bank (KVGB), a regional rural bank headquartered in Dharwad, recorded a growth of 16.75 per cent in its business during 2015-16. The total business of the bank stood at ₹20015 crore during 2015-16 as against ₹17144 crore during 2014-15.

Quoting S Ravindran, Chairman of the bank, a press release said here on Monday that deposits have grown from ₹9914 crore in 2014-15 to ₹11,644 crore in 2015-16, and advances from ₹7230 crore to ₹8371 crore.

The CASA (current account savings account) deposits stood at ₹3,689 crore (₹3127 crore) forming 31.68 per cent of total deposits. The bank registered a net profit of ₹109 crore during 2015-16. This was aided by 7.27 per cent increase in income of the bank.

Ravindran said that the gross NPA of the bank stood at 4.18 per cent, and net NPA at 2.90 per cent. The capital adequacy ratio of the bank stood at 16.91 per cent. This is well above the 9 per cent limit fixed for regional rural banks, he said.

The bank has 611 branches and three extension counters in Dharwad, Gadag, Haveri, Belagavi, Vijayapura, Bagalkot, Uttara Kannada, Udupi and Dakshina Kannada districts of Karnataka. It opened 35 new branches during 2015-16.

It has three all-women branches and one exclusive MSME (micro, small and medium enterprises) branch. The bank has started two exclusive branches for SHGs (self-help groups) at Haveri and Ranebennur. The target is to achieve a network of 635 branches by March 31, he said.

On the outlook for 2016-17, Ravindran said that the bank wants to achieve a business of ₹23475 crore during 2016-17. It also wants to bring the gross NPA to the level of 2.5 per cent during the year.

The bank will introduce net banking facility and install 75 ATMs during the fiscal. Plans are also there to open two more branches for SHGs, he added.

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