Krishna Grameena Bank sees Rs 1,000 cr turnover

Gulbarga, May 24: The Krishna Grameena Bank, one of the leading grameena banks in Karnataka, has achieved Rs 1,000 crore business turnover during the financial year 2005-06, a growth of 28.70 per cent, as against Rs 777 crore registered during the corresponding period the previous year.

Releasing the annual results here today, Bank Chairman G G Vishnumurthy said the bank's deposits stood at Rs 462.83 crore, recording a growth of 23.56 per cent and earned a net profit of Rs 14.06 crore.

The bank, with 106 branches in the state, had over five lakh clients, he added.

Expressing satisfication over the bank's performance, Mr Vishnumurthy revealed that it had a surplus and reserve fund of Rs 52.85 crore.

Talking about the efforts taken by the bank to uplift the weaker sections of the society, he said the bank had disbursed a loan of Rs 210.02 crore among 1,13,970 SC/ST and minorities.

Besides, it had also extended a loan of Rs 5.90 crore to 10,565 self help groups.

The bank had also given loans to the tune of Rs 296.45 crore to the priority sector and Rs 28.19 crore to the non-priority sector, he added.

Lamenting that about 50 per cent of the people living in rural areas did not have a bank account, he said his bank had launched Group Insurance Programme in rural areas by allotting Rs 10.99 crore.

On the bank's contribution to the agriculture sector, Mr Vishnumurthy said it had promoted farmers clubs in rural areas to take up various developmental activities, including conduct of training programmes on cultivation of various crops, pest control, soil conservation and water management.

Disclosing the bank's future plans, he said it had planned to computerise all its branches by June next year and open 80 ATMs across the state.

UNI