Guwahati: The Assam Gramin Vikash Bank, the largest regional, rural bank (RRB) in the NE region, has been successful in making a turnaround by posting net profit after a gap of 5 years, stated a press release.

The meeting of the Board of Directors of the Bank, which was held in Guwahati on April 26, adopted the audited financials of the bank for the financial year 2021-22. The total business of the bank has registered a growth of 5.96% with an upsurge in loans and advances to the extent of 14.54%. The bank has posted an operating profit of Rs148.99 lakh with a net profit of Rs 1.61 lakh in 2021-22 self-help groups were credit-linked in the period, which was the highest in the State amongst all banks, and constitutes 43% of the total SHGS credit-linked in the State. The bank has prepared a plan to expand its reach by catering to the needs of all segments of people in the coming years.

Meanwhile, the bank has also tied up with multiple agencies to augment its credit flow for Agri-infra projects, farmers, producer organizations/companies (FPO/FPCS), MSME sectors, etc. The bank has 472 branches and 1,115 customer service points covering all the districts of Assam. The total customer base of the bank has crossed 1.60 crores, the release added.