Sarva Haryana Gramin Bank Earns Net Profit Of Rs. 222 Crore
SHGB is a joint entity of Central Government, Punjab National Bank and Haryana Government
BY JAG MOHAN THAKEN
Sarva Haryana Gramin Bank, a joint entity of Central Government, Punjab National Bank and the state of Haryana, having the largest branch network in the state with 680 branches, released its financial results for the half year ended September, 2023 on Tuesday in a press conference convened at its Head Office at Rohtak.
Highlighting the financial results of the bank, Mr. P.K. Mohanty, the Chairman of the Bank stated that the Net profit of the Bank increased 2.5 times from Rs.88 crore of the half year ended September 2022 to Rs.222 crore of the half year ended September, 2023. And Bank’s total business increased by 13.63% YoY from Rs.31169 crore as on 30.09.2022 to Rs.35418 crore as on 30.09.2023. Bank’s total deposits reached to Rs.21514 crore and total advances Rs.13904 crore.
Chairman also divulged that the Gross NPA of the Bank has decreased from 6.34% to 3.65% and the CRAR of the Bank has increased from 14.21% to 15.03%.
Mr. P.K. Mohanty, the Chairman said that the Bank has fixed the target of total business of Rs.40,000 crore for the year ending 31.03.2024 with total deposits of Rs.24000 crore and advances of Rs.16000 crore. Bank’s focus will remain on increasing loans to MSME & retail sectors besides agriculture sector during the current financial year. The bank has announced full waiver of upfront/processing fee and documentation charges on housing loans, car loans, loans against property, personal loans and MSME loans up to 31.12.2023 under Festival Bonanza offer to promote lending under MSME and retail sectors.
Mr. Mohanty also revealed that the bank has started internet banking facility for its account holders.
The Chairman further told that the Bank has also launched a customer friendly current account scheme namely ‘SHGB SARAL Current Account Scheme’ in which artisans, craftsperson, shopkeepers, small entrepreneurs etc. may open their current account with zero initial deposit and a lot of benefits e.g., free internet and mobile banking, ATM cum debit card with accidental insurance benefit of up to Rs.2.00 lakh, free NEFT/RTGS facility, etc.
Mr. Mohanty also told that Sarva Haryana Gramin Bank has contributed at a large scale in implementation of Govt.’s schemes like MMAPUY, PM SVANIDHI, PMEGP etc. for upliftment of the under-privileged and under social security schemes viz. PMJJBY, PMSBY and APY. The bank is going to lead in the state on lending to artisans and craftsperson at a concessional rate of interest of 5% p.a. up to Rs.3.00 lakh in two tranches under PM VISHWAKARMA Scheme.
Mr. Ram Swaroop Singh Salaria, Vimal Kumar Sharma and Rohit Nijhawan, General Managers and other senior officers of the Bank were also present in the conference.
