The Hindu : Karnataka / Belgaum News : Malaprabha Bank records 19.4 per cent growth

Online edition of India's National Newspaper
Friday, Nov 26, 2004

Karnataka

Karnataka - Belgaum

Malaprabha Bank records 19.4 per cent growth

By Our Staff Correspondent

BELGAUM, NOV. 25. Malaprabha Grameen Bank has recorded a growth of 19.4 per cent by doing business of Rs. 1,711 crores in the current financial year, an increase of Rs. 278 crores over the previous year.

Speaking to presspersons at a programme organised by the Information Department here on Thursday, the chairman of the bank, B.S. Surendra, said that the bank had recorded the growth despite several problems and competition from other financial institutions.

Mr. Surendra said that the bank with 243 branches in Belgaum, Dharwad, Gadag, and Haveri, of which 185 were in remote rural areas, 29 in semi-urban, and 29 in cities and towns, catered to the requirements of farmers and others in 1,380 villages. In Belgaum district alone, the bank had 112 branches.

The bank now had deposits of Rs. 890 crores and its advances amounted to Rs. 821 crores. Employee productivity was around Rs.1.21 crores, while the credit-deposit ratio was 92 per cent.

In the current fiscal year, the bank proposed to disburse Rs. 600 crores in loans and had already disbursed Rs. 233 crores. Last year, the disbursement was Rs. 148 crores for the same period, he said.

Advances to the agricultural sector were 74 per cent as against the target of 70 per cent. The bank had distributed 34,921 Kisan Credit Cards and released loans of Rs. 107 crores, Mr. Surendra added.

As against the annual target of linking 2,250 self-help groups (SHG) set by the National Bank for Agriculture and Rural Development (NABARD), the bank had linked 5,694 self-help groups in the first half of the year with credit of Rs. 9.63 crores.

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Malaprabha Bank records 19.4 per cent growth