Tripura News: Tripura Gramin Bank records over 5pc growth in deposit, stresses improving CD ratio

Agartala, Aug 10, 2021, ENEWSTIME Desk

Tripura Gramin Bank has registered over 5 percent growth in deposit as on March 31 last. In fact, the deposit is continuing to increase in successive months after March, 2021. Chairman of TBG, Mahendra Mohan Goswami said in a press meet in Agartala on Tuesday.

 

He added, the bank has achieved a record benchmark Net profit growth of 26.70 per cent in 2020-21 compared to 2019-20. Goswami presented the financial disclosure of the Bank as on March 31, 2021 and said the bank, for the first time since inception, has recorded a 5-digit Total business figure – Rs 10273.71 crore this year compared to Rs 9936.14 crore in last year.

 

| Also Read : Tripura Gramin Bank registers Rs 133.61 cr net profit, ranks top among NE RRBs |

 

However, he pointed out, “Due to Corona pandemic, total business of the Bank grew by 3.40 percent, although, deposit increased by 5.28 percent Y-on-Y basis from Rs 7190.50 crore as on March 31, 2020 to Rs 7569.57 crore as on March 31, 2021. The net profit went up by 26.70 from 157.87 crore in last FY to Rs 200.03 crore”, Goswami said.

 

“The Bank disbursed Rs 1407.30 crore under different lending schemes during the financial year 2020-21 and CD Ratio was 35.72 percent as on March 31 last”.

 

Accepting that CD ratio was not satisfactory, Mahendra Mohan Goswami said, the Bank has already initiated actions to increase the ratio and set a target of pushing it up to 50 percent by the end of current year.

 

Besides, Return on Asset was 2.21 percent which was the highest in the industry.

 

Highlighting productivity of its branches and staff, Goswami said, Per branch business has gone up to Rs 69.42 crore as on March 31, 2021 compared to Rs 67.14 crore as on March 31, 2020 whereas per employee business stood at Rs 12.28 crore as on March 31, 2021.

 

In terms of per employee business, TGB occupies a higher position than most of the other banks, he said.

 

Like net profit, the operating profit of the bank also recorded 20.54 per YOY growth to Rs 260.25 crore.

 

Referring to NPA, the TGB chairman said, Gross NPA came down to 8.25 percent in 2021 compared to 8.94 percent in the previous year. The Bank management has managed to keep NPA at zero percent for second successive year.

 

Focusing on TGB’s role in social security, Goswami said, “TGB has provided the highest share in social security schemes like PM Jan Dhan Accounts, PM Suraksha Bima Yojana, PM Jeevan Jyoti Bima Yojana and Atal Pension Yojana”.  

 

“Tripura Gramin Bank is actively participating in various sponsored programmes for promoting entrepreneurship and generating employment. The Bank sanctioned a total of 418 PMEGP proposals and 1404 loans under Swabalamban amounting Rs 19.88 crore and Rs 49.61 crore respectively during 2021”, he added

 

The Bank also extended loan facilities for business and Agricultural activities during Covid pandemic situation.

 

“Our Bank has contributed Rs 50 lakh towards Chief Minister Relief Fund on July 13 last to combat pandemic Covid19 through Chief Minister Biplab Kumar Deb”, Goswami commented.