Kerala Gramin Bank

Kerala Gramin Bank
	Kerala Gramin Bank Headquarters at Malappuram
Company type	Regional rural bank
Industry	Banking; Financial services
Predecessor	South Malabar Gramin Bank ; North Malabar Gramin Bank
Founded	8 July 2013; 11 years ago
Headquarters	Malappuram, Kerala, India
Number of locations	634 branches (2021)
Area served	Kerala, India
Key people	Vimala Vijaya Bhaskar; (Chairman )
Products	Consumer banking; Corporate banking; Finance and insurance; Mortgage loans; Private banking; Savings; Asset management; Wealth management;
Owner	Government of India
Parent	Ministry of Finance, Government of India
Website	www.keralagbank.com

Kerala Gramin Bank (KGB) is an Indian regional rural bank (RRB), headquartered in Malappuram, Kerala. Like other RRBs, the Government of India holds the majority 50% shares, while the Kerala state government holds 15% and Canara Bank owns the remaining 35% stake.

History

The bank was formed by amalgamating North Malabar Gramin Bank and South Malabar Gramin Bank on 8 July 2013 by the Ministry of Finance, Government of India. The bank serves the area previously operated by the two banks. It is sponsored by Canara Bank. Like other RRBs, Government of India holds the majority 50 percent shares, while the state government and Canara Bank holds 35 percent and 15 percent, respectively. As of 2013, KGB had 504 branches and a total net worth of ₹471.58 crore and deposits of ₹7,266 crore and advances of ₹7,761 crore, with a total business of ₹15,027 crore.^[1]^[2]

Performance

In 2021-2022 fiscal year, KGB made a profit of ₹124.14 crore, nearly four times compared to the profit of the previous fiscal year. The net interest income had grown by 23 percent and non-interest income by 27 percent. KGB had a deposit of ₹21,834 crore. The bank registered 8.4% growth in deposit. The credit also increased by 4.5 percent. With a clientele base of 92.34 lakh, KGB's total business grew by 6.50 percent to reach ₹41,113 crore, which was ₹38,607 crore in the previous fiscal.^[3]