Respected Shareholders,

I take pride in presenting the 25th Annual Report of Malwa Gramin Bank.

Malwa Gramin Bank was established on 27th February 1986 for providing banking services to rural people under Regional Rural Bank Act, 1976. Malwa Gramin Bank is a profit-making bank. With tremendous growth in business, the bank has acquired an iconic status in its area of operation by providing customer friendly services. Bank’s business has grown to the level of Rs.103545 lacs in the last 25 years and it has touched the lives of nearly 10,00,000 people of our area.

In the year 2010-2011 Bank’s Deposits have grown to Rs.56383.55 lac and Advances to Rs.47161.58 lac (deposits grew by Rs.5211.00 lacs and advances by Rs.6117.72 lacs). The Capital Adequacy ratio has improved from 18.40% to 18.55% and Credit Deposit (C.D.) Ratio from 80.21% to 83.64%. The business per Branch has increased from Rs.1808.16 lacs to Rs.1953.68 lacs. The Bank earned an all time high net profit of Rs.935.35 lacs during the year 2010-2011.
 

I take pleasure in sharing some other achievements of the Bank which also gained importance in the working of the Bank and are enumerated as under: -

a) During the year under review Malwa Gramin Bank achieved the glorious distinction of implementing core banking solution (CBS) in 100% branches – a status which very few RRBs enjoy.

b) Two new branches namely Dhuri and Gharachon have been opened during the year 2010-2011

c) Realizing the importance of development of Human Resources for the progress of our Bank, we deputed 43 officers of the Bank to various national level prestigious training institutes viz Bankers Institute of Rural Development Lucknow etc. to enable them to broaden their vision and mental horizon besides acquiring job knowledge. The newly recruited Officers and Office Assistants were also provided induction training in Infotech Acadmy of our sponsor Bank. This has facilitated our work force to perform with more zeal and enthusiasm

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 opened 58368 “No Frills” Accounts and issued 1763 General Credit Card (GCC) amounting to Rs.431.55 lacs to the needy persons.

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 gratitude to Reserve Bank of India, National Bank for Agricultural and Rural Development and District Administrations of Sangrur, Patiala, Barnala, Fatehgarh Sahib and SAS Nagar (Mohali) for their valuable guidance and cooperation. I am also grateful to the members of our Board of Directors as without their cooperation and guidance, this tremendous growth over the years could have not been possible. Finally, I would like to place on record my appreciations for all my staff members for their best team work, sincerity and dedication to accomplish the set goals, I am sure that the Bank will further scale new heights in the years to come with the sincere efforts of our staff.

With best regards,
 

(MANJIT SINGH)
CHAIRMAN