Records a net profit of Rs. 156 crore during 2012-13

Andhra Pragathi Grameena Bank transacted business of Rs. 11,761 crore in 2012-13, recording a quantum increase of Rs. 1,758 crore (17.57 per cent) over the previous year, Bank chairman D. Sampath Kumar Chary said here on Thursday.

The Bank earned a net profit of Rs. 155.61 crore as on March 31, which was highest among five regional rural banks in its area of operation, he told a press conference here.

It mopped up deposits of Rs. 5,001 crore, recording a 10.81 per cent growth and gave advances of Rs. 6,760 crore, which was 23.13 per cent more than the previous year. Its credit-deposit ratio stood at 135 per cent.

Its priority sector advances touched Rs. 5,632 crore, accounting for 83.31 per cent of gross advances and its agricultural lending was Rs. 5,233 crore, constituting 77.41 per cent of gross advances, Mr. Chary said.

The bank linked 1.36 lakh self help groups with outstanding loan amount of 1,270 crore, topping all banks in its operational area and fourth among commercial/grameena banks in the State in terms of extending finance to SHGs.

The bank issued 5.35 lakh kisan credit cards involving Rs. 2,499 crore and sanctioned Rs. 16.41 crore as loans to 6,667 farmers having loan eligibility cards, the bank chairman said.

The bank was planning to start 72 ATMs and to issue debit cards to all its customers by June end. All the 438 bank branches in Kadapa, Anantapur, Kurnool, Nellore and Prakasam districts migrated to core banking solutions. It ensured solar lighting in all households in four villages in Anantapur district, he said.

The Bank forecast a business of Rs. 13,050 crore with deposits of Rs. 5,800 crore and advances of Rs. 7,250 crore in 2013-14, the bank chairman said.

Housing loans

While the major thrust would continue on financial self help groups, emphasis would be laid on housing loan portfolio and recovery of loans, he said.

Bank’s General Managers V. Krishnamachari and Gopi Krishna and seven regional managers were present.