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The Ballari-headquartered Karnataka Gramin Bank registered a net profit of ₹14.04 crore

Karnataka Gramin Bank, the largest regional rural bank (RRB) in southern India with a total business of ₹55,855 crores during 2020-21 and the second largest RRB in the country, registered an income of ₹3,478 crores as against ₹3,233 crores in the previous fiscal.

The Karnataka Gramin Bank sponsored by Canara Bank registered a net profit of ₹14.04 crore during 2020-21 as against a profit of ₹18.61 crores in 2019-20.

The deposits of the bank stood at ₹31,068 crores and advances at ₹24,787 crores during the financial year 2020-21.

Karnataka Gramin Bank has a network of 1,134 branches and 242 ATMs. It has deployed around 1,300 business correspondents for rendering services to its customers.

Priority sector advances grew by 15.05 per cent to reach ₹22,928 crores, constituting 92.50 per cent of the bank’s total advances, it said. The bank is targeting a business of ₹62,000 crores for 2021-22.

During the lockdown period, the bank deployed five mobile ATMs to deliver cash to the people’s doorsteps in Ballari, Kalaburagi, Raichur, Mysuru and Chitradurga districts said.

A press statement said that the bank has been consistently earning profits since its inception.

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