Tripura Gramin Bank secures 2nd position among 43 Regional Rural Banks in India

The Tripura Gramin Bank (TGB) has secured the second position in terms of business, growth, and diverse performance among 43 Regional Rural Banks (RRBs) in India, registering a profit of Rs 27.92 crore after doing business of Rs 12,398.55 crore in the 2023-24 fiscal, a top bank official said on Saturday.

TGB Chairman Satyendra Singh said that as of March 2024, the bank registered an operating profit of Rs 153.04 crore with a net profit of Rs 27.92 crore.

He said that TGB's net profit was Rs 3.62 crore while operating profit was Rs 23.62 crore in the 2022-23 fiscal. Singh said that in terms of business, growth and various performances, the TGB secured second position among the 43 RRBs in India after the Jharkhand Rajya Gramin Bank, which held top position in the financial year ended March 2024. There are seven RRBs in the northeastern region including Tripura and Assam.

According to Singh, the TGB’s total business grew by 10 per cent which is Rs 12,398.55 crore as on March 2024 from Rs 11,271.92 crore as on March 2023. Established 48 years ago (in 1976), the TGB, which is operating across Tripura with 150 full-fledged branches, 12 ultra small branches besides three regional offices, had started posting a net profit of Rs 21.49 lakh from the financial year of 2001-02.

 Per branch business has improved to Rs 82.66 crore in the last year compared to Rs 76.16 crore in the previous year, the TGB chief said, adding that per employee business has also increased to Rs 13.96 crore from Rs 12.85 crore in the same period. He said that the bank has wiped out the entire accumulated loss of Rs 139.40 crore in 2012-13.

The chairman said that the bank's deposits increased to Rs 8800.81 crore in the last fiscal from Rs 8022.56 crore as on March 31, 2023 while the Credit Deposit Ratio increased to 40.88 per cent from 40.50 per cent. Singh said that with a 10.72 per cent increase, the bank raised its advance to Rs 3597.74 crore in the last fiscal from Rs 3249.36 crore in the previous financial year. The target of advance for the current year (2024-25) is Rs 4,000 crore, he added.

He said that the TGB has been implementing all the government’s social security schemes, including the PM Jan Dhan accounts, PM Suraksha Bima Yojna, PM Jeevan Jyoti Bima Yojna, Atal Pension Yojana and Mudra Loan.