NMGB net profit at Rs 11.41 cr

THIRUVANANTHAPURAM: Kannur-based North Malabar Gramin Bank has clocked a net profit of Rs 11.41 crore for 2009-10, representing a growth of 172%.

The operating profit of the bank also shot up 164% during the same period, from Rs 10.81 crore to Rs 28.50 crore.

NMGB chairman V Sri Rama Prakash said total business of the bank had moved up from Rs 3,357 crore at the end of March 2009 to Rs 4,123 crore at the end of March 2010, and that the net NPA ratio had declined from 1.85% to 1.70% during the same period.

NMGB has targeted aggregate business to touch Rs 5,060 crore in the current fiscal.