June 2019 \ Business & Investment \ BUSINESS AND GOVERNANCE
Tripura Gramin Bank posts profit for 7 successive years

Posting net profit for seven consecutive years ...

Posting net profit for seven consecutive years, the Tripura Gramin Bank (TGB) is among India’s top three out of 46 regional rural banks (RRBs) in terms of profit, business and growth, TGB Chairman Mahendra Mohan Goswami said in May. “In terms of profit, business and growth, the TGB is among the three leading RRBs in the country. After some of them merger with commercial banks, currently India has 46 RRBs against the earlier 56,” Mr Goswami told IANS. He said that the 43-year old TGB, has posted a net profit of Rs 125.45 crore in the fiscal 2018-19 against the net profit of Rs 44.14 crore in 2017-18, and of Rs 56 crore in 2016-17.

The Central government has a 50 percent stake in TGB, the United Bank of India (UBI) has 35 per cent, while the 15 per cent is held by the Tripura Government. The TGB, with 148 full-fledged branches and 11 ultra-small branches (USBs), has been gradually expanding its business across the northeastern state, especially in the rural and remote areas. The Chairman said that all the 11 USBs would be converted into full-fledged branches in the current fiscal. “The TGB is the only one among the eight RRBs in the northeastern region, comprising eight states including Sikkim, that has been making profit successively,” he said.

Like other nationalised banks, the TGB has been providing all modern facilities to the customers.

—Sujit Chakraborty