North Malabar Grameen Bank's biz over Rs 2,150 cr

Kannur, Feb 23 (UNI) The business turnover of the North Malabar Grameen Bank (NMGB), the first Regional Rural Bank (RRB) in India authorised to accept NRE deposits, has surpassed Rs 2,150 crore with deposits of Rs 1,020 crore and advances of Rs 1,130 crore.

Bank Chairman S S Shet told a press conference here today against mandated 60 per cent, 86 per cent of advances were given to the priority sector.

Fifty per cent went to agriculture and bank issued 73,000 Krishi Cards amounting to Rs 215 crore.

Non-performing assets were less than two per cent ofoutstanding advances and the bank had been operating profitably with reserves at Rs 123 crore.

UNI