MPGB: Business up, NPA down

Sushil Sharma resolves to continue the flagship financial inclusion program with focus on opening accounts from every household to every adult

Madhya Pradesh Grameen Bank was constituted on 1st April, 2019 after amalgamation of 2 RRBs - Narmada Jhaubua Grameen Bank and Central Madhya Pradesh Gramin Bank. The amalgamated entity Madhya Pradesh Gramin Bank has a network of 866 branches & 14 regional offices.

BUSINESS MIX UP

Business mix of Madhya Pradesh Gramin Bank has grown y/y by 8% to ₹270.27 bn, as of March 2021. Deposits of MPGB have increased by 7.33% to ₹161.50 bn, and advances by 9.26% to ₹108.77 bn. Major growth indicators of the bank, for the first quarter in the current FY are encouraging. Sunil Sharma, Chairman, updates: “Advances have shoot up to ₹109 bn, with positive y/y growth of 11.05% and deposits have recorded a quarterly growth of 1.24% to reach ₹ 163.50 bn. CASA deposits’ percentage has increased q/q from 49% to 49.16% as on 30.06.2021. Particularly in CASA deposits, we have launched special campaigns for opening of new saving bank accounts.”

CONTAINING NPA

Gross NPAs of MPGB has reduced y/y to ₹19.63 bn from 20.37% to 18.05% and net NPAs, with y/y percentage drop to 11.11% from 14.08%, stand at ₹11.14 bn as on 31.03.2021.