Agartala, May 10: Tripura Gramin Bank (TGB), the sole rural bank in the state established in December 1976, has once again made headlines with a remarkable performance.
The bank announced a staggering net profit growth of 671.27 percent for the fiscal year 2022-24, maintaining its streak of record-breaking achievements.
During the annual press meet held at the bank’s headquarters in Agartala, Satendra Singh, the chairman of TGB, accompanied by General Managers Shishir Kumar Rohatgi and Santosh Kumar Rawat, unveiled the bank’s profit statement and business reports for the year 2023-24.
Singh revealed that the bank recorded an operating profit of Rs. 153.04 crores and a net profit of Rs. 27.92 crores as of March 31, 2024.
These figures represent a remarkable growth of 547.93 percent and 671.27 percent, respectively, compared to the previous fiscal year.
Highlighting the bank’s lending activities, Singh disclosed that TGB disbursed a significant amount of Rs. 2192.64 crore under various lending schemes during the same financial period.
Impressively, the bank reported a nil net NPA, with the gross NPA reduced to Rs. 168.94 crore, marking a decrease from 5.10 percent to 4.69 percent.
Singh proudly stated that TGB’s per branch business surged to Rs. 82.66 crore in the last fiscal year from Rs. 76.16 crore, while per employee business also saw an uptick to Rs. 13.96 crore from Rs. 12.85 crore during the same period.
Emphasizing the bank’s commitment to financial inclusion, Singh underscored TGB’s pivotal role in catering to rural areas where other banks are less prevalent. Operating across all eight districts of Tripura, TGB boasts 150 branches and 121 business correspondent (BC) agents, serving customers through 439 BC points.
Additionally, the bank recently introduced its innovative initiative, the first solar-powered TGB on wheels, providing essential banking services and ATM facilities to remote areas.
