MBGB exceeds Rs 2 cr business per employee target: CMD

PATNA: The Madhya Bihar Gramin Bank have crossed the target of Rs 2 crore business per employee fixed by Finance Minister P Chidambram, bank's Chairman cum Managing Director S K Bansal said on Saturday.

The bank has not only met the target set by the Finance minister for the year 2007-08, the business per employee increased to Rs 2.05 crore at the end of March 2008, Bansal told reporters here.

The bank has 398 brances in 11 districts of South Bihar. The per branch business across the state increased from Rs 7.56 crore at the end of March 2007 to Rs 9.30 crore by the end of the current fiscal, he said.

The 11 branches of the bank has earned a profit of Rs 22.4 crore ending March 2008, which is 31.23 per cent more than the earnings of the previous financial year, Bansal said.

The credit deposit ratio of the bank has crossed over 40 per cent at the end of March 2008, which is better than the average of other rural and commercial banks operating in the state which was hovering around 32 per cent, he claimed.

The deposits of MBGB stood at Rs 2,628.25 crore as on March 2008, up by 19.09 per cent than the last fiscal.

MBGB would soon be providing home loans for which business facilitators had been appointed, he said.