CHAIRMAN'S MESSAGE

You have been supporting the Bank in each and every step and you are the reason for growth trajectory. The Bank has shown an absolute growth of ₹2733 crores over last year and reached the BUSINESS LEVEL of ₹35884 crores from ₹33151 Crore with a YoY growth of 8.2%. This is well comparable with growth percentage of other Banks.

Bank has earned gross income of ₹2121.49 crores and earned operating profit of ₹301.2 crores during FY 2023-24. After making provision of ₹197.03 crores, the Bank has registered net profit of ₹104.17 crores. The Bank's Net worth (capital + reserves) have risen to ₹1368.61 Crores from ₹1264.56 Crores.

Since most of the branches are located in rural areas (427), the bank is striving hard to improve the living standards of the villagers with unique products which suits them the most. Priority Sector Lending has been the constant endeavor of the Bank to facilitate equitable and sustainable economic development by timely and hassle-free availability of credit for productive purposes to Small and Marginal Farmers, Micro and Small Enterprises, Retail Traders, Professional and Self Employed, Women Entrepreneurs and entrepreneurs from economically weaker sections.

The Bank firmly believes that delivery of financial services at an affordable cost to the vast sections of the disadvantaged and low-income groups is a National Priority. The Bank has done exceedingly well in this area. The Bank has Opened 23.12 lakh PMJDY accounts wherein total deposit mobilized is ₹1688.55 crore. Under Pradhan Mantri Suraksha Bima Yojana (PMSBY) the bank has registered 21.73 Lakh policies and under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) 9.98 Lakh policies. The Bank has enrolled 4.28 Lakh Atal Pension Yojana. All these efforts of the bank have been commended and PFRDA has awarded 11 Awards to the Bank.

During FY 2023-24, the Bank has set a new record by enrolling 60812 Accounts under Atal Pension Yojana (APY) in a single day. The Bank is having nine district jurisdiction covering Dharwad,Gadag, Haveri, Belagavi, Vijayapura, Bagalkote, Uttara kannada , Udupi and Dakshina Kannada with a branch network of 629. Even in this limited service area the Bank has registered this achievement and no other Bank has done this achievement so far in Karnataka and no Regional Rural Bank in the country.

The Bank, in line with the Government’s saturation mission has undertaken several awareness programme to reach the eligible population. In the FY 2023-24 the Bank stood first in Karnataka by achieving 136% against the target and so far the Bank has enrolled (Cumulative) 4,27,736 accounts under APY.

For all these reasons, this Rural Bank is much appreciated by all. Hence, my earnest request to you all to do all your banking business with our Bank which in turn will help to develop this Region. I am assuring you, the best of our services; I welcome you to our website to know more about us. Your valuable suggestions for improving our services are always welcome.

Shreekant M Bhandiwad

Chairman