Karnataka Vikas Grameen (KVG) Bank, one of the leading regional rural banks headquartered in Dharwad, has recorded a whopping 391% growth in net profit over the last year by registering a net profit of ₹31.90 crore. Last year, the bank registered a net profit of ₹6.5 crore.
Addressing presspersons in Dharwad on Wednesday, Chairman of KVG Bank P. Gopi Krishna said that despite the economic slowdown due to COVID-19-induced lockdown, the bank managed to achieve good results in recovery by convincing customers of the need to repay.
Consequently, the net NPA of the bank fell to 5.9% from 9.7% and the gross NPA also fell to 9.37% from 13.91%, he said.
