Tripura Gramin Bank posts net profit of Rs 35.35 cr

AGARTALA: The Tripura Gramin Bank (TGB) has posted a net profit of Rs 35.35 crore in the last financial year, it said on Sunday.

"The bank which has 111 branches across the state has achieved a profit of Rs 35.35 crore," the banks's chairman Nilmani Gangopadhyay told reporters here.

The bank's credit-deposit ratio is now 39 percent when the nationalised commercial banks recorded 32 percent in the state, he said adding that the bank has issued 1,500 biometric cards to disburse wages under the NREGA (National Rural Employment Guarantee Act) and pension under the National Old Age Pension (NOAP) schemes.

Tripura is the second state in the country after Andhra Pradesh to use biometric cards for payments under the NREGA and NOAP.

He said, among the 84 Regional Rural Banks in the country affiliated to the Reserve Bank of India, 52 are profit making, 26 are in current profit and six recorded loss.

Gangopaddhyay said the Tripura Gramin Bank has made a target to achieve a net profit of Rs 50 crore in the current financial year and added that by the end of this year core banking facilities would be available at all the 111 branches of the bank.