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KVGB registers gross profit Rs 74.20 cr

Written by: Staff

Dharwad, May 5 (UNI) Karnataka Vikas Grameen Bank (KVGB), an amalgamation of the four grameena banks in Karnataka and ranked number one regional rural bank (RRB) in the country, has achieved a business level of Rs 3,667 crore and a gross profit of Rs 74.20 crore during 2005-06.

Addressing a press conference here today, KVGB Chairman B S Surendra said compared to other combined level of the RRBs as on March 31, 2005, KVGB had recorded a net growth of Rs 667 crore.

He said in the nine districts, which formed its area of operation, the bank had disbursed Rs 846 crore, of which Rs 436 crore was for agriculture. Under Kisan Credit Card scheme, 77,664 beneficiaries were given loans to the extent of Rs 377 crore.

To a question, Mr Surendra said the bank had computerised 381 of its 387 branches and now it was on the threshold of opening its first ATM at Dharwad soon. It had planned to open 20 ATMs during the current year.

''The bank plans to open 15 new branches during the year and has set a deposit target of Rs 2,300 crore and advances target of Rs 2,200 crore, thus taking the total business to Rs.4500 crore. It plans to disburse Rs.1100 crore under its various schemes and in this suvarna Karnataka year, the bank will come out with novel schemes,'' he added.


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