Agartala , May 10, 2024, TRIPURATIMES Desk

Agartala, May 10: The Tripura Gramin Bank, once facing financial struggles, has emerged as a leader in the state's banking sector since 2021. The bank announced a net profit of Rs. 27.92 crore for the financial year ending March 31, 2024, a staggering 671.27% increase compared to the previous year. During a press conference at the TGB headquarters in Agartala, esteemed bank officials, including Chairman Satyendra Singh and General Managers Shishir Kr Rohtagi and Santosh Kumar Rawat, unveiled the annual report for 2023-24 on Friday.

Chairman Singh highlighted the bank's significant growth, with total business expanding by 10%, reaching Rs. 121398.55 crore as of March 31, 2024, up from Rs. 11271.92 crore the previous year. The bank's deposits saw a 9.70% year-on-year increase, amounting to Rs. 8800.81 crore. In a move to share the bank's prosperity with the community, TGB has announced plans to extend Rs. 4000 crore in loans to bolster agricultural infrastructure and entrepreneurship in the upcoming financial year. This initiative is expected to catalyze economic growth and support the agrarian community significantly, Singh said.

TGB has also achieved a commendable milestone of zero Net Non-Performing Assets (NPA), with the gross NPA witnessing a decrease of 0.40%. The bank's Credit-Deposit (CD) ratio improved to 40.88%, reflecting a healthy balance between the bank's loan and deposit amounts. Despite an increase in staff, TGB reported an 8.64% rise in business per employee. With a robust network of 34 ATMs across the state, including 21 in rural, 11 in semi-urban, and 2 in urban areas, TGB remains committed to providing substantial financial support and uplifting the lives of the rural populace.

TGB’s announcement underscores its dedication to foster financial inclusion and empower the rural communities of Tripura, setting a precedent for banking excellence in the region.