Kerala Gramin Bank
Kerala Gramin Bank (KGB) is a prominent example of regional rural banking in India, tailored to meet the financial services needs of the rural population of Kerala. Established on July 8, 2013, by merging North Malabar Gramin Bank and South Malabar Gramin Bank, KGB operates with the support of the Government of India, the state government of Kerala, and Canara Bank as its sponsors.
With its headquarters located in Malappuram, Kerala, the bank has expanded its presence through a network of 634 branches across the state as of 2021. This growth is indicative of KGB’s commitment to enhancing banking accessibility in rural areas, which is crucial for boosting regional economic development.
Financially, KGB has shown robust performance over the years. The fiscal year 2021-2022 was particularly notable as the bank’s profit surged to ₹124.14 crore, which was nearly four times the previous year’s figures. This remarkable increase was supported by a 23 percent rise in net interest income and a 27 percent growth in non-interest income. The bank’s deposits reached ₹21,834 crore with an 8.4% growth rate, and the credit portfolio expanded by 4.5%. With a customer base of 92.34 lakh, KGB’s total business grew by 6.50 percent, reaching ₹41,113 crore.
Kerala Gramin Bank is more than just a financial institution; it is a vital part of the community it serves, contributing to both local and personal growth. Its efforts to expand in all panchayats within its service area will further enable financial inclusion, helping numerous rural residents and businesses to thrive. Overall, KGB continues to play a pivotal role in the empowerment of Kerala’s rural economy, positioning itself as a reliable and progressive regional rural bank.