While total business increased to Rs 3,933 crore from Rs 3,144 crore, registering more than 25 per cent growth, the quantum increase stood at Rs 789 crore, which is an all-time record of the bank, said an SMGB official.
The total deposits, which were at Rs 1408 crore as at March 2007, rose to Rs 1,893 crore by the end of March 2008, an increase of Rs 485 crore or 34.44 per cent. This is also an all-time record and the highest in the industry, said the bank official.
Total credit crossed the Rs 2,000-crore mark and touched Rs 2,040 crore by March 2008, from Rs 1735 crore last year, an increase of 17.51 per cent. The net NPA reduced from Rs 62.27 crore to Rs 32.84 crore during the year, registering a net NPA of just 1.63 per cent of the net advances, N S Bose, chairman of SMGB, stated in a press release.