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, , 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, , AGM, SBI, Dumka, Kausik Sinha and AGM, Nabard, N K Poddar also attended the board meeting of the Vananchal Gramin Bank.

Read more on:   
|
|

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 ...


Quick Links

News Rss icon

LIC Housing Finance takes over Orbit Corp's Mumbai property

Orbit's total amount outstanding is Rs 95.50 crore including interest, expenses and other charges

VCES a rare opportunity, make fresh start, says Chidambaram

The FM asked hose in trade and industry to seize the offer

Govt allows greater flexibility for pension fund investments

But the EPFO board would need to approve the changes before they become official

Back to Top