Kerala Gramin Bank (KGB) is an Indian regional rural bank (RRB), headquartered in Malappuram, Kerala. Like other RRBs, the Government of India holds the majority 50% shares, while the Kerala state government holds 15% and Canara Bank owns the remaining 35% stake.
 | |
 Kerala Gramin Bank Headquarters at Malappuram | |
| Company type | Regional rural bank |
|---|---|
| Industry | Banking Financial services |
| Predecessor | South Malabar Gramin Bank North Malabar Gramin Bank |
| Founded | 8 July 2013 |
| Headquarters | Malappuram, Kerala, India |
Number of locations | 634 branches (2021) |
Area served | Kerala, India |
Key people | Vimala Vijaya Bhaskar (Chairman ) |
| Products | |
| Owner | Government of India |
| Parent | Ministry of Finance, Government of India |
| Website | www |
History
editThe bank was formed by amalgamating North Malabar Gramin Bank and South Malabar Gramin Bank on 8 July 2013 by the Ministry of Finance, Government of India. The bank serves the area previously operated by the two banks. It is sponsored by Canara Bank. Like other RRBs, Government of India holds the majority 50 percent shares, while the state government and Canara Bank holds 35 percent and 15 percent, respectively. As of 2013, KGB had 504 branches and a total net worth of ₹471.58 crore and deposits of ₹7,266 crore and advances of ₹7,761 crore, with a total business of ₹15,027 crore.[1][2]
Performance
editIn 2021-2022 fiscal year, KGB made a profit of ₹124.14 crore, nearly four times compared to the profit of the previous fiscal year. The net interest income had grown by 23 percent and non-interest income by 27 percent. KGB had a deposit of ₹21,834 crore. The bank registered 8.4% growth in deposit. The credit also increased by 4.5 percent. With a clientele base of 92.34 lakh, KGB's total business grew by 6.50 percent to reach ₹41,113 crore, which was ₹38,607 crore in the previous fiscal.[3]
See also
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References
edit- ^ "Formation of Kerala Gramin Bank notified following merger of two RRBs". Business Line. 9 July 2013. Retrieved 14 September 2013.
- ^ Viswanath, Chandrakanth (15 July 2013). "KGB to expand operations in all Panchayats". The New Indian Express. Archived from the original on 21 September 2013. Retrieved 14 September 2013.
- ^ Staff Reporter (7 June 2022). "Kerala Gramin Bank improves performance". The Hindu. Retrieved 15 October 2023.
External links
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