From the Chairman's Desk

Respected Shareholders,

I feel honoured in presenting the 28th Annual Report of Sutlej Gramin Bank.

The Bank has registered tremendous business growth of 20.93 % during the year 2013-2014. The deposits have increased by 15.76% & the advances of the Bank have registered a growth of 27.89%. In absolute terms the advances grew to the tune of Rs. 260.33 Crore registering a growth of Rs. 56.77 Crore during the year. The deposits grew to the tune of Rs. 306.46 Crore registering a growth of Rs. 41.73 crore. The Credit Deposit (C:D) Ratio of the bank stood at 84.95%. The business per branch has increased from Rs. 15.12 Crore to Rs. 18.29 Crore. Despite the recruitment of staff in the month of November 2013, effective utilization of human resources enabled the bank to maintain the per employee productivity of Rs. 4.93 Crore.

The Bank continued its effort for maintaining its quality of asset as a result of which there is commendable reduction in Gross NPAs which has brought down from 4.54% to 3.53% and Net NPAs level is lowered from 2.55% to 1.95%. The net profit of the bank has increased by 52.27% during the financial year ended 31.03.2014 i.e. it has increased from Rs. 1.55 Crore as on 31.03.2013 to Rs. 2.36 Crore as on 31.03.2014. The recovery of bank is 95.82%. The bank is on sound footing with Capital Adequacy Ratio of 11.87%.

In order to improve the profitability, the Bank has swapped IBPC of Rs. 49.50 Crore (Priority Sector Advances with Non Priority Sector Advances) with IDBI Bank Ltd for 180 days with an interest spread of 5% in Bank's favour. It will help in increasing the profit by Rs. 1.24 Crore up to Sept 2014.

Realizing the Importance of Human Resources Development in the growth of our bank, we deputed officers of the bank to various national levels prestigious training institutes viz Bankers Institutes for Rural Development, Lucknow, CAB Pune to enable them to broaden their vision and mental horizon besides acquiring job knowledge.

This has helped to infuse new energy and instill confidence in our work force. To equip the branches with sufficient human resources, the bank has recruited 10 Scale-I Officers & 29 Office Assistants.

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