Andhra Pragathi Grameena Bank reports net profit of ₹639 crore in FY 2024-25
The Hindu
Andhra Pragathi Grameena Bank (APGVB) reports strong financial performance with significant growth in total business and low NPAs.
Andhra Pragathi Grameena Bank (APGVB) reported a net profit of ₹639 crore and an operating profit of ₹1,084 crore in financial year (FY) 2024-25. APGVB chairman Satyaprakash Singh announced that the bank achieved 9.5 per cent growth in total business at ₹50,757 crore in FY 2024-25 against the previous fiscal.
The bank’s gross non-performing assets (NPA) ratio stood at 1.22 per cent, while net NPA is zero and the provision coverage ratio (PCR) is at 100 per cent. Its capital to risk-weighted assets ratio (CRAR) stood at 25.50 per cent and it is having a net worth of ₹5,231 crore. It has a wide network of nine regional offices and 551 branches spread over 10 districts in Andhra Pradesh.
According to the chairman, the bank achieved a deposit level of ₹23,667 crore and advances level of ₹27,090 crore by March-end. Its business outreach further widened with total deposit accounts of about ₹64.93 lakh and loan accounts of about ₹16.50 lakh respectively. Its low cost deposits constitute 34.83 per cent of total deposits during the last fiscal.
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