KGB

Kerala Gramin Bank to Open 20 New Branches in This Fiscal

Kozhikode: Malappuram-headquartered regional and rural lender Kerala Gramin Bank (KGB) will open 20 new branches in different parts of the State during 2017-18 financial year, said M.K. Ravikrishnan, Chairman, KGB today.

Announcing the future plans of the KGB, an amalgamation of South and North Malabar Gramin Banks, on the occasion of its 4th anniversary celebration, he said with this, total number of branches will rise to 635 in the State.

Adjudged as the top Gramin Bank in the country in terms of total business recorded, the KGB, which has posted more than Rs 28,810 crore, and targets Rs 40,000 crore hike in terms of deposit and loan Rs 20,000 crore respectively.

“The KGB also aims to provide maximum loan to clientele in reservation brackets. South Malabar Gramin Bank and North Malabar Gramin Bank, after 40 years of service, were amalgamated into one entity KGB on July 8, 2013. Government of India, Canara Bank and Kerala Government has share ratio of 50:35:15 per cent respectively in the KGB,” he added.