Dear Sir / Madam,
Greetings and Welcome to Andhra Pradesh Grameena Vikas Bank Website.
Into The Second Decade
The Bank, on successful completion of a decade with performance par excellence, has entered into the 2nd decade of it’s formation. The entry has been with a bang as the working results for FY 2016-17 have reached an envious position of Rs.351.99 Crores net profits. We are the only Regional Rural Bank in the country with such profits and in the process we have left behind some of the Commercial Banks, also.
We, with the esteemed support of over 1 crore customers across the states of Andhra Pradesh and Telangana, aim high during the ensuing years.
The Bank has a total of 768 branches, covering almost all the unbanked areas in the operating districts of Andhra Pradesh and Telangana. You can find the details of branches with contact numbers in Our Branches segment of this site.
Apart from serving through established branches, we have a very strong force of Business Correspondents, the Bank Mithras, to cater the needs of our customers at their doorsteps, with all modern technological assistance in the form of AEPS etc. We have the support of 1867 bank Mithras across our service areas.
Ownership of our Bank
Our Bank, the APGVB is a Government Schedule Bank with Share capital contributions from The Government of India, being the owner of our Bank with 50% Share Capital followed by State Bank of India (Our Sponsor Bank and one of the biggest banks in the Globe) with 35% and State Government with 15%, established under an Act of Parliament i.e., Regional Rural Banks Act 1976. Our Share Capital is Rs 94.08 Crore. The goals and objectives of our Bank are mandated by Government of India.
While the Bank has been offering the traditional Deposit Products, like Savings Bank Account, Current Account, Fixed Deposits etc., we have, during the year 2016-17, introduced “NRI Banking Services” and offering NRE/NRO Deposit Accounts. The details are available at our website.
We have a comparatively higher interest rate structure on deposits, vis-à-vis, other commercial bank. The rates are updated in the INTEREST RATE section of this site from time to time.
Though, by constitution, we are a Regional Rural Bank, We take up all sorts of finance apart from traditional finance under Agriculture and Allied Agriculture. We offer loans under Housing Loans segments, MSME (Micro, Small & Medium enterprises) Asset Backed Mortgage Loans, Educational Loans (Both in India and Abroad), Loan against pledge of gold ornaments, Personal Loans to employees of public/ private sector, Vehicle Loans etc. The various Loan Products offered by us are available in this site. The rates of interest charged are also competitive.
The Bank, is in the forefront in adoption of technology for providing seamless banking services. All the 768 branches of the bank are on Core Banking Solutions (CBS) platform. A number of technology products have been rolled out by the bank for extending convenience banking on the go.
Technology is leveraged to provide banking services in 4444 unbanked villages. 1867 Bank Mitra’s equipped with latest technology biometric enabled Micro ATMs provide last mile banking services in their area of operation. All the financial transactions carried out at Bank Mitra’s are in real time environment. The banking operations enabled at a Bank Mitra’s are:
With the continued support and patronage from our valuable customers, our Bank has made good strides in business growth – Our business growth means vibrating rural economy with our services.
The Bank’s business as of 31.03.2017 has surpassed Rs.25,000/- Crores mark and leaping forward. The deposits of the Bank stood at Rs. 12818.58 Crores and we have also extended loans and advances of Rs. 12368.53 Crores along with the low percentage of the gross non-performing assets as 1.69%, a handsome CRAR of 14.05%, NIM 3.86% and the sound reserves/ net worth position of the bank speak about the quality business of the bank.
The following award won by the bank during FY 2016-17 are the recognition by the Government and other rating agencies;
Our Bank is also the Runner Up under the category of “Best Social Bank”. Chairman received both the Awards from Shri Arjun Ram Meghwal, Minister of State for Finance & Corporate Affairs, The Government of India during 12th Annual Banking Summit-cum-Social Banking Excellence Awards 2016 function organized by ASSOCHAM in Mumbai on 03.03.2017.
You are welcome to our Toll Free Number 18004257900 for further enquiries. We have a separate Toll Free Number 18004252274 for enquiries with regard to Banking Correspondents/ Bank Mithras users.
I thank you very much for visiting our website and hope you shall enter into a business relationship with us. I am also confident that the facts and figures of the bank would make you recommend the site to your friends and relatives.
(V. Narasi Reddy)