State-owned Small Industries Development Bank of India (SIDBI) has posted a 21 per cent growth in profit to Rs 421 crore for the year ended March, 2010.
The development finance institution had registered a net profit of Rs 299 crore in the previous fiscal.
"The total income of the bank in 2009-10 also showed an impressive growth of 21 per cent and reached an all-time high of Rs 3,207 crore," SIDBI Chairman and Managing Director R M Malla said at the bank's AGM yesterday.
Total assets of the bank also grew by 21 per cent to Rs 41,885 crore.
The bank, he said, recorded its highest ever sanctions (Rs 35,521 crore) and disbursements (Rs 31,918 crore) during 2009-10, with a substantial increase in indirect as well as direct lending.
Net non-performing assets (NPAs) of the lender as a percentage of its net outstanding stood at 0.18 per cent as on March 31, 2010, reflecting strong monitoring, persistent follow-up and timely action by the bank, as well as adequate provisioning, he added.
He said the assistance extended by the bank towards finance inclusion increased by 53 per cent to Rs 2,670 crore and its micro-finance outstanding stood at Rs 3,812 crore as on March 31, 2010.
The bank’s micro finance support through partner institutions has benefited more than 340 lakh persons, mostly women in the rural sector, he added.
