Andhra Pradesh Grameena Vikas Bank (APGVB)’s net profit increased to Rs 180 crore during the financial year ended March 31, 2014 compared with Rs 159 crore in the previous year
The business grew by Rs 2,228 crore (Rs 1,779 crore) during the year registering 18 per cent growth. The total business stood at Rs14,687 crore, according to a release.
During the year, the regional rural bank, which is sponsored by State Bank of India, had opened 66 new branches taking the total number of branches to 704. In addition, 64 new ultra small branches were also opened.
``Business per employee has increased to Rs.5.34 cr (Rs 5.07 cr) despite a net addition of 272 employees,’’ the release said.
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