MALWA GRAMIN BANK
   
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  Chairman Desk


Respected Customers,

I take pride in presenting the 23rd  Report of Malwa Gramin Bank.

The Bank achieved tremendous growth in business during the year 2008-2009.The Bank has opened 10 new branches namely Barnala, Allowal, Chehal, Sanghol (Ucha Pind), Peerjain, Dhatogal, Shergarh Cheema, Jhaloor, Kutba and Ealwal  during the year. The deposits increased by 36.81%. The advances of the Bank registered a growth of 23.92%. In absolute terms the advances grew to the tune of Rs.342.05 crore registering a growth of Rs.66.01 crore during the year. The deposits grew to the tune of Rs. 429.97 crore registering a growth of Rs.115.69 crore against a budgeted growth of Rs.110.71 crore. The Bank not only achieved but also surpassed the target of 30% additional flow of credit to Agriculture Sector as allotted by the Govt. of India. The Credit Deposit (C.D.) Ratio of the Bank stood at 79.55%. The business per Branch has increased from Rs.14.40 crore to Rs.15.14 crore despite the fact that 10 new branches were  opened during the year and better utilization of human resources enabled the bank to significantly improve the per employee business from Rs.4.16 crore to Rs.4.20 crore. The Bank earned an all time high net profit of Rs.8.76 crore during the year 2008-2009 and all the 41 old  branches and  4 newly opened branches have earned profit. The Bank continued its effort for maintaining its quality of asset as a result of which our NPA level is 1.42% of total advances. The recovery of Bank is 95.74%.

 

Further, I take pleasure in sharing some other achievements of the Bank which also gained importance in the working of the bank.

a)       Malwa Gramin Bank has already got a glorious achievement of becoming a 100% computerised bank – a status which very few RRBs enjoy. Bank is now opening all new branches as 100% fully computerized branches.

b)       Focussing our attention on providing better infrastructure at our Branches, we paid special attention to improve ambience of our Branches. Ambience of all our branches has improved. The premises of these branches were face-lifted either by shifting to new premises or by renovating the same as per the need of the Branch. Three, of our Branches viz Sangrur, Patiala and Barnala have been converted into fully Air Conditioned branches. New furniture/ counters and other amenities have been provided at the Branches to make them more customer friendly.

c)       Realizing the Importance of Human Resources Development in the growth of our Bank, we deputed 54 officers of the Bank to various national level prestigious training institutes viz Bankers Institute of Rural Development Lucknow and National Institute for Rural Banking, Bangalore etc. to enable them to broaden their vision and mental horizon besides acquiring job knowledge. It has helped to infuse more energy in our workforce.

d)       With the objective of providing Banking Services to the vast section of society hitherto deprived of this facility, we are complying with the instructions of Reserve Bank of India regarding financial inclusion in letter and spirit. We have opened 34712 “No Frill” Accounts and issued 1140 General Credit Card (GCC) amounting to Rs.279.34 lacs  to the needy persons so far.

e)       With the objective of expansion of Bank 10 new branches were opened during the year. We have also got permission from RBI to open four new branches. Further, our Bank is shortly migrating to CBS

f)       For smooth customer service at our branches we have recruited 12 officers in JMGS-I, 32 Clerk cum Cashier and 14  in subordinate staff during the year. In the year 2009-10 we are further going to recruit all category of staff.

I avail this opportunity to convey my sincere thanks to the Top Management of our Sponsor Bank for their continued support and valuable guidance. I express my sincere gratitude to Reserve Bank of India, National Bank for Agriculture and Rural Development and District Administrations of Sangrur, Patiala, Fatehgarh Sahib and Barnala for their valuable guidance and cooperation. I am also grateful to the members of our Board of Directors without whose cooperation and guidance this marvellous growth could not have been possible due to which the Bank could reach new heights. Finally, I would like to place on record my appreciations for all my staff members for their best team work, sincerity and dedication to reach this level of performance and I am sure that the Bank will further scale new heights in the years to come.

With best regards.

                                                                                                   ( Ajit Singh) 

                                                                                                    Chairman

                                                                                        

 
 
 
 

 

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