Karnataka Gramin Bank, the largest regional rural bank (RRB) of South India, has clocked a total business of Rs.57,210 crore for the 2021-22 financial year.
Bank chairman Shreenath Joshi, presenting the performance sheet in Ballari on Tuesday, said that the bank continues to be the second largest regional rural bank among the 43 such banks in the country.
Mr. Joshi said that the bank has been consistently earning profits since its inception. The bank has registered a net profit of Rs.47.46 crore with a growth rate of 238% over the previous year’s Rs.14.05 crore. And, the gross profit has gone up to Rs.851.27 crore, with a growth rate of 18% over the previous year’s Rs.723 crore.
Karnataka Gramin Bank has a strong foothold with 1,119 branches spread across 22 districts. With 839 branches in remote villages, the bank has made inroads into metro and other urban regions as well.
Despite a challenging economic scenario that prevailed during the year, the bank reported a modest growth in aggregate deposits to reach Rs.31,788 crore from Rs.31,068 crore a year ago.
The bank witnessed an excellent growth of 11.63% under demand deposits and improved the share of demand deposits from 36.80% to 40.16%, he added.
