Business Standard

Vananchal Gramiun Bank posts record profit in 2011-12

Related News

The in Jharkhand has made a record profit of Rs 16.21 crore in the financial year 2011-12 among the regional rural banks in the country.

The bank which has nearly 195 branches with core banking facilities spread over six districts of Santal Pargana and three districts of Palamau, recently presented its balance sheet in its annual meeting in Dumka. The bank claimed that it has made “ significant achievements” in various categories.

According to chairman of the bank, Basant Kumar Mishra, Vananchal Gramin Bank recorded 8.18 per cent growth in deposits and a 20.89 per cent growth in advance loans disbursement.

He said that the bank also managed to contribute to its annual profit by way of commission by cross-selling business under SBI Life, amounting to Rs 68.70 lakh.

Mishra said that Vananchal Gramin Bank was the first among its 22 regional counterparts sponsored by the State Bank of India to have realized such a huge amount through cross selling.

He said that the bank’s profit from miscellaneous incomes amounted to Rs 9.69 crore that also helped the bank in achieving a growth rate of 99.5 per cent.

The bank had been able to recover close to Rs 3.76 crore it had written-off, which in turn boosted annual profits.

According to the balance sheet, the annual credit plan of the bank touched to Rs 389 crore that enabled the bank to achieve a 100 per cent growth target.

The chairman said that Vananchal Gramin Bank also ranked high in priority sector loan disbursement in the state, that included loans in the agriculture sector, advances to women, minorities and other weaker sections.

The DGM of SBI, Bhagalpur zone, V K Sharma, AGM, SBI, Dumka, Kausik Sinha and AGM, Nabard, N K Poddar also attended the board meeting of the Vananchal Gramin Bank.

Read more on:   
|
|

Vananchal Gramiun Bank posts record profit in 2011-12

The Vananchal Gramin Bank in Jharkhand has made a record profit of Rs 16.21 crore in the financial year 2011-12 among the regional rural banks in the country.

The in Jharkhand has made a record profit of Rs 16.21 crore in the financial year 2011-12 among the regional rural banks in the country.

The bank which has nearly 195 branches with core banking facilities spread over six districts of Santal Pargana and three districts of Palamau, recently presented its balance sheet in its annual meeting in Dumka. The bank claimed that it has made “ significant achievements” in various categories.

According to chairman of the bank, Basant Kumar Mishra, Vananchal Gramin Bank recorded 8.18 per cent growth in deposits and a 20.89 per cent growth in advance loans disbursement.

He said that the bank also managed to contribute to its annual profit by way of commission by cross-selling business under SBI Life, amounting to Rs 68.70 lakh.

Mishra said that Vananchal Gramin Bank was the first among its 22 regional counterparts sponsored by the State Bank of India to have realized such a huge amount through cross selling.

He said that the bank’s profit from miscellaneous incomes amounted to Rs 9.69 crore that also helped the bank in achieving a growth rate of 99.5 per cent.

The bank had been able to recover close to Rs 3.76 crore it had written-off, which in turn boosted annual profits.

According to the balance sheet, the annual credit plan of the bank touched to Rs 389 crore that enabled the bank to achieve a 100 per cent growth target.

The chairman said that Vananchal Gramin Bank also ranked high in priority sector loan disbursement in the state, that included loans in the agriculture sector, advances to women, minorities and other weaker sections.

The DGM of SBI, Bhagalpur zone, V K Sharma, AGM, SBI, Dumka, Kausik Sinha and AGM, Nabard, N K Poddar also attended the board meeting of the Vananchal Gramin Bank.

image

Read More

Rupee touches new low at Rs 56.5 vs dollar

The rupee today tumbled by 26 paise to trade at a new low of Rs 56.50 against the US dollar in early trade on increased capital outflows and strong ...

Recommended for you

Quick Links

More news from Finance Rss icon

SBI, PNB lead Jan Suraksha enrolments to 104 mn

Banks including PNB had tied-up with LIC in life and public general insurers for accident cover

Insurance fraud: Rising problem in non-life segment

Firms now employing specalists in probe teams, creating 'red flags' in motor & health insurance, tracking social media for activity of ...

Mobile banking may overtake internet transactions by next year: HDFC Bank

Launches mobile banking app for Apple Watch

Back to Top