Chairman's Message

It gives me great pleasure in presenting the 12th Annual Report and financial statement of Jharkhand Gramin Bank for the financial year 2017-18. It is the 4th year in succession that I am presenting the report as Chairman of this Institution. In the year under review, despite adverse market condition our bank has posted a Net Profit of Rs. 10.14 crores and the Bank has shown improvement under all Business Parameters. For empowering women in rural areas of Jharkhand, the Bank has undertaken SHG financing in a big way with the help of JSLPS and NABARD. The Bank has credit linked 6059 SHGs against the target of 5000 SHGs during the financial year 2017-18. Proving our commitment for enhanced lending under production credit, the Bank has issued 69110 KCCs from 01.04.2017 to 31.03.2018 against the target of 65000 KCCs. Our bank has been actively participating in all social security schemes of Government, be it PMJDY, PMSBY, PMJJBY, SHG Credit Linkage, PMMY and Atal Pension Yojna. Under GSA-I the Bank has saturated all 14 villages allocated to it. Under GSA-II, saturation of 940 villages are going on in full swing and again here we are confident to achieve our goal. Patronage of all our valued customers and dedication of all staff members are our strength. I am sure that with the motivated and dedicated workforce the business level, productivity and profitability of the Bank will improve further in the days to come. The salient features of the performance of the Bank are as under

The total Deposit of the Bank have grown to Rs.3440 crore as on 31.03.2018 against Rs.3285 crore as on 31.03.2017 registering a growth of 4.71% over 31.03.2017.

  1. The total low cost deposit of the Bank has improved to Rs.2108 Crore as on 31.03.2018 against Rs.1995 crore as on 31.03.2017 registering a growth of 5.62% over 31.03.2017. Low cost deposit of the Bank was 61.26% of total deposit as on 31.03.2018.
  2. Gross Advance outstanding stood at Rs.1073 crore as on 31.03.2018 against Rs.972 crore as on 31.03.2017, registering a growth of 10.29%. It is almost at par with industry level growth.
  3. Gross NPA level as on 31.03.2018 has increased to Rs.143.24 crore against Rs.127.84 crore as on 31.03.2017. In percentage term it has increased from 13.14% to 13.35% against gross outstanding advances.
  4. Net NPA level has increased from 6.43% to 6.81% as on 31.03.2018. We have prepared a Board approved Monitorable Action Plan for reduction of NPA at desired level and we are confident to achieve our goal.
  5. The interest income of the Bank has improved to Rs.101.95 crore in FY 2017-18 as compared to Rs.90.17 crore in during 2016-17, whereas interest payment has increased marginally from Rs.164.47 crore as on 31.03.2017 to Rs.167.84 crore as on 31.03.2018.
  6. WE have been able to reduce our controllable expenses during financial year ending March 2018 which resulted in improvement of our operating profit to Rs.49.79 crore from Rs.30.47 crore as on 31.03.2017.

While presenting the Annual Report, I am confident and committed for better result of Bank in all areas during financial year 2018-19.

I heartily acknowledge the valuable contributions, suggestions and support provided by the Board of Directors, Sponsor Bank (Bank of India), RBI, NABARD, Government of India and Government of Jharkhand, our valued customers and untiring efforts of team JGB to enable Bank to reach at this level.


Sanjib Sarkar