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Thursday, Apr 3, 2025 | India

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Mizoram Rural Bank Leads with Unmatched Branch Network and Stellar Financial Performance

Mizoram Rural Bank excels in net profit, NPA management, and branch network, marking a milestone in rural banking.Mizoram Rural Bank excels in net profit, NPA management, and branch network, marking a milestone in rural banking.

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Author: Saurav Kumar

Published: May 15, 2024

Mizoram Rural Bank (MRB) shines in net profit and Net NPA performance, as revealed in its fiscal year 2023-24 annual report. The bank, situated in India's northeastern region, demonstrates remarkable growth in net profit and advances, underscoring its stellar performance in managing Non-Performing Assets (NPAs).

The fiscal year 2023-24 data further underscore MRB’s excellence across vital metrics such as Cash Deposit Ratio, Current and Savings Account (CASA) balances, and overall business volume.

Outstanding Profits with Lowest NPA

Mizoram Rural Bank (MRB) has delivered exceptional financial results in its March audit, boasting a net profit of Rs. 84.48 crore. According to a member of the AIRRBEA-affiliated Mizoram Rural Bank Officers’ Association, the bank’s net profit surged by an impressive 29.59%, indicating its expanding presence in rural areas.

Additionally, the bank’s advances increased by 12.94%, totalling Rs. 3265.77 crore, underscoring its dedication to serving rural communities and earning their trust.

Of significant note is MRB’s remarkable achievement in reducing Non-Performing Assets (NPAs), which now stand at just 0.12%, showcasing the bank’s effective risk management strategies.

Furthermore, MRB has demonstrated commendable performance in deposits and business, with growth rates of 6.64% (Rs. 5299.73 crore) and 9.19% (Rs. 8565.50 crore) respectively.

Image: Audited Financial Results of Mizoram Rural Bank

Leading Lender with Unmatched Branch Network

According to MRB officials, the bank has not only shown improvement across all fronts but has also achieved monumental feats. An official stated, “MRB operates 104 branches, nearly matching the total branches of other banks in the state, boasting the best branch networking among all banks.”

Mizoram Rural Bank was established on 27th September 1983 under the Regional Rural Bank Act 1976 and perhaps the only RRB in the country having a spread in all the districts and blocks of a state. 

The bank has stupendously outperformed India’s largest lender, State Bank of India (SBI). The official revealed, “Mizoram Rural Bank has surpassed SBI, its sponsor bank, and holds the second-highest deposits in the state, after SBI.”

Describing it as a historic achievement, the official added, “For a gramin bank to outperform its sponsor bank on any growth parameter is truly remarkable.” 

Mizoram Rural Bank’s achievements in net profit, NPA management, and branch network expansion not only solidify its position as a leader in rural banking but also inspire confidence in its continued success.

Tags:Mizoram Rural BankFinancial ResultsNet ProfitNPA