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

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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.