Kerala Gramin Bank (KGB) made a profit of ₹124.14 crore in the last financial year. It was nearly four times compared to the profit of ₹33.43 crore that the bank made in the previous fiscal.
KGB officials said the operating profit had improved from ₹195.66 crore in March 2021 to ₹412.16 crore in March 2022. A meeting of the KGB board expressed happiness at the bank’s performance post-COVID.
Officials said a healthy capital base, improved capital to risk (weighted) assets ratio (CRAR), good business growth, and an ever high profit marked the performance of the bank in the financial year that ended on March 31.
The bank’s CRAR stood at 11.41% as against 6.71% last year. It was due to the recapitalisation of ₹627.44 crore from Central and State governments and Canara Bank.
KGB officials said the net interest income of the bank had grown by 23% and non-interest income by 27% in the last financial year.
The bank registered 8.4% growth in its deposit. At the end of the last financial year, KGB had a deposit of ₹21,834 crore. The credit also increased by 4.5%. The bank had given ₹19,279 crore in credit, and 94% of which was in the priority sector.
With a clientele base of 92.34 lakh, KGB’s total business grew by 6.50% to reach ₹41,113 crore. It was ₹38,607 crore in the previous fiscal. Officials said the digital transaction had increased to 87%.
