Image courtesy: www.tripuragraminbank.org

The Tripura Gramin Bank has posted a net profit of Rs 44.43 crore in the first half of the current fiscal and envisaged to cross Rs 10,000 crore business in 2019-20.

The bank, first among India’s 45 regional rural banks is giving profits for the last 19 consecutive years

According to the chairman Mahendra Mohan Goswami, the bank has been doing profit since 2001-02.

In the first six months (April-September) of the on-going financial year, the bank posted a net profit of Rs 44.43 crore against Rs 11.36 crore in the corresponding period of last fiscal (2018-19), the chairman added.

Also read: Tripura Gramin Bank launches mobile ATM service

India had earlier 56 regional rural banks . Many of them amalgamated among themselves or merged with their sponsor banks.

Goswami said that the Tripura Gramin Bank in the last fiscal (2018-19) had secured a record net profit of Rs 125.45 crore which was the highest ever since the bank’s existence in 1976 and also crossed the business of Rs 9,000 crore.

The bank currently has 160 branches including 12 ultra small branches across Tripura.

The deposit increased by 8.94 per cent and crossed Rs 6617 crore as on September 30, from Rs 6073.81 crore on September 30 last year, Goswami added.

The bank’s Credit Deposit Ratio (CDR) currently stood at 40.60 per cent against the national banks’ CDR of 66 per cent.

The bank, which covered over 75 per cent of Tripura’s population, mostly in the rural and interior areas, also has Aadhaar-enabled 225 micro ATMs and 192 business correspondents to hand out money and other banking services at the doorsteps of customers.

The bank is also the first regional rural bank in the country to have been accorded permission by the RBI to start treasury function of the Tripura government and open a currency chest.

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