How has Tripura Gramin Bank achieved net profit for the second year in a row?
Click to start listening
Synopsis
Tripura Gramin Bank has demonstrated exceptional growth, achieving a net profit of Rs 104.91 crore for the second consecutive year. With a focus on priority sectors and robust digital initiatives, the bank is playing a pivotal role in the rural economy of Tripura, showcasing its resilience amid economic challenges.
Key Takeaways
- Net profit of Rs 104.91 crore achieved for FY 2024-25.
- Total business growth of 13.60 percent.
- Deposits increased to Rs 10,066 crore.
- Focus on priority sector lending, especially agriculture.
- Digital initiatives enhance customer access and convenience.
Agartala, May 9 (NationPress) The Tripura Gramin Bank (TGB) has established itself as a leader in business, growth, and varied performance among 28 Regional Rural Banks (RRBs) in India, achieving a net profit of Rs 104.91 crore for the financial year 2024-25, according to a senior bank official.
TGB Chairman Satyendra Singh announced that the bank, which operates 150 full branches and 12 Ultra Small Branches (USBs) throughout Tripura, recorded a net profit of Rs 104.91 crore last fiscal year, a significant increase from Rs 27.92 crore the previous year (2023-24).
He highlighted that the bank's total business surged to Rs 14,085.14 crore, reflecting a growth of 13.60 percent compared to the previous year (2023-24).
"Our total deposits rose to Rs 10,066 crore, which indicates the confidence placed in us by the people of Tripura, achieving an impressive growth of 14.38 percent from last year. The gross advances amounted to Rs 4,019.14 crore, representing an 11.71 percent increase," Singh informed the media.
The Tripura Gramin Bank has shown remarkable resilience and sustainable growth during the financial year 2024-25, despite facing various economic challenges and global uncertainties, he noted.
The TGB Chairman also stated that the bank has successfully brought down its net Non-Performing Assets (NPA) to zero percent, highlighting the enhanced credit appraisal and recovery processes. The Capital to Risk-weighted Assets Ratio stands at a robust 24.50 percent, well above the 9 percent minimum required by the Reserve Bank of India.
The official emphasized that the bank remains committed to priority sector lending, particularly in agriculture, Micro, Small, and Medium Enterprises (MSMEs), and Self-Help Groups (SHGs), thereby bolstering the rural economy of the northeastern state.
"Through our digital initiatives, we have enhanced access and convenience for our customers via mobile banking, internet banking, and doorstep banking services," he added.
Additionally, the Tripura Gramin Bank has actively engaged in government-sponsored programs such as Swabalamban, PMEGP, PMSvnidhi, PMSuryaghar Yojana, and various Social Security and DBT schemes, extending benefits to numerous individuals.
"We aspire to play a significant role in the vision of a self-reliant rural India, aligning with national priorities and the aspirations of our esteemed stakeholders," Singh concluded.
According to the TGB Chairman, the per branch business has increased to Rs 93.90 crore for the last fiscal year (2024-25), compared to Rs 82.66 crore in the previous year. The per employee business rose to Rs 15.56 crore in the last fiscal, up from Rs 13.96 crore in 2023-24.
Point of View
It's inspiring to witness the Tripura Gramin Bank's achievement in maintaining profitability while focusing on rural development. Their initiatives in digital banking and priority sector lending not only enhance customer trust but also contribute significantly to the northeastern economy. Such resilience amidst economic uncertainties is commendable and aligns perfectly with national development goals.
NationPress
21/05/2025
Frequently Asked Questions
What is the net profit of Tripura Gramin Bank for the last fiscal year?
The net profit of Tripura Gramin Bank for the financial year 2024-25 is Rs 104.91 crore.
How many branches does Tripura Gramin Bank have?
Tripura Gramin Bank has 150 full-fledged branches and 12 Ultra Small Branches across Tripura.
What is the growth percentage of Tripura Gramin Bank's total business?
The total business of Tripura Gramin Bank grew by 13.60 percent over the previous year.
What initiatives has Tripura Gramin Bank taken to support rural development?
Tripura Gramin Bank focuses on priority sector lending, especially to agriculture and MSMEs, and actively participates in various government-sponsored schemes.
What is the status of Tripura Gramin Bank's Non-Performing Assets?
Tripura Gramin Bank has successfully reduced its net Non-Performing Assets to zero percent.
