Tripura Gramin Bank’s net profit rises to Rs 7,000 cr

Agartala: The Tripura Gramin Bank (TGB) has posted a net profit of Rs 43.95 crore, the highest among the regional rural banks (RRBs) in eastern and northeastern India, during the last fiscal, the bank’s chairman said here on Wednesday.
Supervised by United Bank of India (UBI), the TGB, one of India’s 82 RRBs, has declared profit for the fourth consecutive years and the bank’s current business volume rose to Rs 7,000 crore.
“The TGB has recorded a net profit of Rs 43.95 crore in 2015-16 fiscal. In the current financial year (2016-17), as on September 30, the bank achieved a profit of Rs 22.84 crore,” TGB chairman Upendra Sabar told reporters.
He said: “The bank (TGB), with 156 branches including 12 ultra small branches (USB) across Tripura, has targeted a net profit of Rs 45 to 50 crore in the current fiscal (2016-17).”
The bank, which has over 70 per cent branches in the rural areas, also has Aadhaar enabled 225 micro ATMs and 190 business correspondents to hand out the money and other banking services at the door steps of the customers. TGB, along with three other RRBs — Assam Gramin Bank, Manipur Gramin Bank and Bangiya Gramin Bank in West Bengal, is sponsored by Kolkata-based UBI.
The bank has also registered a record in per branch business and per employee business with Rs 47.42 crore and Rs 8.83 crore, respectively, in the last financial year (2015-16).
Sabar accompanied by bank’s general manager Dipankar Ambuly and development officer Bikash Roy Debbarma, said TGB is the first RRB in India to have been accorded permission from the Reserve Bank of India (RBI) to start treasury function of the Tripura government and open currency chest. The bank celebrating 41st foundation day on Wednesday through various functions including special credit delivery camps across the state.
“All the 144 permanent branches of the TGB have come under the core banking services (CBS) and few more new branches would be opened in rural and remote areas within a year,” the bank chief said. (IANS)