The Telangana Grameena Bank (TGB) for 2020-21 has posted a net profit of ₹301 crore, an increase of 75.92% from the ₹171.10 crore registered in the previous fiscal.
This came on the back of total business increasing 15.63% to ₹20,212.97 crore (₹17,480.28 crore). While deposits grew more than 12% to ₹10,109.15 crore, advances at ₹10,103.82 crore were a little over 19% higher.
The Net Interest Margin was 4.08% (-1.34%). Gross NPA increased to 2.25% (2.08%), while net NPA declined to 0.29% (0.41%). A release on the pre-audited results for 2020-21 said the regional rural bank operates through a network of 424 branches in the five erstwhile districts of Adilabad, Karimnagar, Nizamabad, Rangareddy and Hyderabad.
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Chairman V. Arvind said that the customer base of the bank is 38.06 lakh. The focus of TGB is on priority sector lending, particularly towards improving agricultural production, empowerment of women and promoting self employment/ retail trading in rural and semi urban areas. It also concentrates on home, education, vehicle and gold loans. The release said the bank offered a relatively higher rate of interest on deposits compared to other banks in its area of operation.