Despite economic slowdown, Tripura Gramin Bank posts profit for 12th straight year

Agartala
In spite of the Covid-induced economic slowdown, the Tripura Gramin Bank (TGB), one of the leading banks among the 43 Regional Rural Banks (RRBs) in India, registered a profit for the 12th straight year with a net gain of Rs 3.62 crore in the last fiscal (2022-23) and doing over Rs 11,271.92 crore business, a top bank official said here on Thursday.
The TGB Chairman, Satyendra Singh said that as on March, 2023, his bank registered an operating profit of Rs 23.62 crore with a net profit of Rs 3.62 crore.
A senior bank official told that the TGB's net profit was Rs 143.14 crore and operating profit was Rs 282.40 crore in 2021-22 fiscal. Economic recession across the world and absence of major and medium industrial and entrepreneurial projects in Tripura, the bank's profit reduced in the last financial year, the official said.The TGB, which has 148 branches and 15 Ultra Small Branches across Tripura, had wiped out the entire accumulated loss of Rs 139.40 crore in the financial year 2012-13 by registering net profit year-on-year basis. Singh said that compared to 2021-22 fiscal, the bank's deposit was increased by 3.94 per cent and the advance increased by 15.54 per cent in the last financial year.
The TGB has been implementing all flagship programmes of the Central government, including the PM SurakshaBimaYojana, PM JeevanJyotiBimaYojana, Atal Pension Yojana, Kisan Credit Card, Mudra Loan, etc.