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Telangana Grameena Bank Registers Outstanding Performance in FY 2023-24
Telangana Grameena Bank (TGB) achieves remarkable success in FY 2023-24, reporting an 18% profit increase, a 15% rise in advances, and a strong Cash Deposit (CD) ratio.
Author: Saurav Kumar
Published: May 8, 2024
Telangana Grameena Bank (TGB) has registered an impressive result for the fiscal year 2023-24. The bank’s audited financial data reveal a remarkably high profit and advances and a significant increase in business volume, reflecting an impressive turnaround.
The audited data for FY 2023-24 show that TGB has not only reduced its net NPA to 1.78% but has also seen substantial growth in several key metrics, including net profit, deposits, CD ratio and advances. Despite facing a range of challenges, the bank has maintained its upward trajectory, demonstrating its resilience and capacity for sustained success.
Outstanding Performance
Telangana Grameena Bank (TGB) was created by amalgamating four Regional Rural Banks (RRBs) sponsored by the State Bank of Hyderabad. The amalgamation included 1) Sri Saraswathi Grameena Bank, Adilabad, 2) Sri Satavahana Grameena Bank, Karimnagar, 3) Sri Rama Grameena Bank, Nizamabad, and 4) Golconda Grameena Bank, Ranga Reddy (Hyderabad).
After amalgamation of the Associate Banks of State Bank, our sponsor bank has been changed from State Bank of Hyderabad to State Bank of India.
On October 20, 2014, the Government of India, Ministry of Finance, amended the original notification, renaming “Deccan Grameena Bank” to “Telangana Grameena Bank.” Operating in the southern part of India, TGB consistently delivers outstanding performance, with a footprint that spans 18 districts and 427 branches.
Image: Financial Result of Telangana Grameena Bank
The bank’s community-focused approach has allowed it to excel against all odds like inadequate infrastructure, staff shortage, as evidenced by its fiscal year 2023-24 data. TGB boasts a Net Interest Margin (NIM) of 4.16% and a Current Account Savings Account (CASA) ratio of 36%, with business per employee reaching Rs. 16 crore. This exceptional performance reflects the bank’s commitment to serving its community and its ability to adapt in a challenging environment.
Soaring Profit and Impressive CD Ratio
Telangana Grameena Bank (TGB) has achieved remarkable results in its March audit, with a net profit of Rs. 529 crore, representing an 18% increase. Advances also grew, reaching Rs. 14,841 crore, a 15% rise from the previous fiscal year.
A key highlight is the bank’s Cash Deposit (CD) ratio, which surged to an impressive 105%. Additionally, the bank’s Non-Performing Assets (NPAs) remain low at just 1.78%, indicating excellent credit quality. TGB's deposits rose to Rs. 14,195 crore, a 13% increase, demonstrating robust risk management practices and the bank's consistent performance.