North Malabar Gramin Bank

North Malabar Gramin Bank

Type	Public Sector Bank, sponsored by Syndicate Bank
Industry	Financial Commercial banks
Founded	Estd. under Regional Rural Banks Act 1976
Headquarters	Kannur, Kerala, India
Key people	V.K.Saigal, Chairman
Employees	1115
Website	www.nmgbank.com

North Malabar Gramin Bank (Malayalam: ഉത്തര മലബാര്‍ ഗ്രാമീണ്‍ ബേങ്ക്) (NMGB) is a regional rural bank in India. It was established in 1976 as a Scheduled Commercial Bank as per Regional Rural Banks Act of 1976 to provide banking facilities for farming and non-farming sectors in North Malabar region. Presently its area of operation is extended to 7 districts in Kerala, India. It finances farm and non-farm sectors and other employment generation programs through its 183 branches spread over these 7 districts. The government of India holds 50% of the shares of the bank while Syndicate Bank and the government of Kerala hold the balance 35% and 15% respectively. While day-to-day administration is performed by Syndicate Bank which is the sponsor bank, policy decisions are taken by NABARD on behalf of the government of India. The Bank is now in the process of converting its all branches into Core Banking branches.

See also

• NMGB HomePage