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Assam Gramin Vikash Bank posting net profit after a gap of 5 years

Regional Rural Bank Assam Gramin Vikash Bank has made a turnaround by posting net profit after a gap of 5 years.

The meeting of the Board of Directors of the bank was held at recently which adopted the audited financials of the Bank for the financial year 2021-22.

Total business of the Bank registered in a growth of 5.96% with upsurge in Loans and Advances to the extent of 14.54%. The Bank posted an Operating profit of Rs148.99 lakh with net profit of Rs.1.61 lakh in 2021-22.

During the financial year 2021-22, the bank made fresh advances to the tune of Rs.1859 crores. 33234 Self-Help Groups (SHGs) were credit linked in the period, which was highest in the State amongst all Banks and constitutes 43% of total SHGs credit linked in the State.

The Bank has prepared an ambitious plan to expand its reach and size catering to the needs of all segments of people in the coming years. In the meantime, the Bank has entered into tie ups with multiple agencies to augment its credit flow for Agri-Infra projects, Farmer Producer Organisations/Companies (FPO/FPCs), MSME sectors, etc.

Assam Gramin Vikash Bank is wholly owned by Government of India, Government of Assam and Punjab National Bank.

As on date, the bank is operating through 472 branches and 1115 Customer Service Points (CSP) covering all the districts of Assam. Total customer base of the Bank has crossed 1.60 crore.

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