Grameena Vikas Bank registers profit of Rs. 201.61 crore

May 23, 2015 12:00 am | Updated 05:54 am IST - WARANGAL:

The Andhra Pradesh Grameena Vikas Bank (APGVB) recorded a net profit of Rs. 201.61 crore.

The bank, sponsored by State Bank of India, has registered business growth of Rs. 2,659.02 crore. Bank chairman V. Narsi Reddy said the the bank was among the top three Regional Rural Banks (RRBs) in the country. With a reserve base of Rs. 1,080.26 crore, it has a comfortable capital adequacy ratio of 13.45%. The deposits grew by Rs.1,488.80 crore at 21.92% over March 2014 to reach Rs.8,280.01 crore. A total of Rs. 4,872.19 crore has been disbursed to the farm sector during the year 2014-15 as against Rs. 3,337.71 crore disbursed during 2013-14. The outstanding of all advances reached Rs. 9,065.61 crore at 14.82% with an absolute growth of Rs. 1,170.18 crore.

The APGVB financed 1,76,281 Self Help Groups during 2014-15 as against Rs.1,898.60 in 2013-14.

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