Dharwad, May, 20: The Karnataka Vikas Grameen Bank, the leading regional rural bank, has posted a net profit of Rs 40.25 crore during FY 2022-2023 registering a growth of 26.18% over the last year.
KVGB covers nine districts of north and coastal Karnatak and has 629 branches with ten regional offices.
The Bank’s net NPA has come down from 6.96 per cent in 2022-2023 from 9.37 per cent in 2021-2022, said KVGB chairman Shreekant Bhandiwad here on Saturday.
He told reporters that the bank has reached the business level of Rs 33150.80 crore from Rs 30747.85 crore with a year-on-year growth of 7.82 per cent.
Bhandiwad said the bank had a deposit of Rs 18710.23 crore and the total advance stood at Rs 14440.37 crore. The advance to priority sector was Rs 12304.07 crore which is 90.12 per cent of Bank’s total credit. The agriculture sector received Rs 10276.47 crore which is 71.16 per cent of Bank’s total credit. MSME recieved Rs 796.30 crore, Housing Rs 98.89 crore and Investment sector Rs 707.85 crore.
The chairman said that the post-Covid situation and heavy rains hit the farmers hard and the recovery was adversely affected. However the Bank could bring down the NPA from 9.37 per cent to 6.96 per cent. Various means including flexible One Time Settlement (OTS) are being implemented to improve the recovery, he said.
The Bank aims at increasing the total business level to Rs 35700 crore in FY 2023-2024. Stating that the Bank has opened 20.68 lakh PM Jan Dhan Yojana accounts with a total deposit mobilization of Rs 1359.56 crore, Bhandiwad said the Bank has done well in reaching the frutis of the Central government schemes to the beneficiaries.
The Bank has to its credit nine national awards from the Pension Fund Regulatory and Development Authority (PFRDA) for implementing social security schemes like Atal Pension Yojana, PMJJBY and PMSBY.
KVGB general managers V Thennarasu, Satheesha R, Sathyaprasad N, R T Kamble, M Punith andchief manager (Marketing & PR) Ullas Gunaga were present.