Dutch financial major Rabobank International has infused Rs 145 crore equity capital in Rabo India Finance Private (RIF) to support its business growth for the next 12-18 months. | |
| Rabo India's capital adequacy has increased to 15.63 per cent with this capital infusion from 12.51 per cent, which was slightly above the minimum required 12 per cent. The Rabobank's subsidiary equity base has now increased to Rs 578.51 crore from Rs 427.93 crore. |
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| The non-banking finance company (NBFC) focuses on fund-based and investment banking services to food and agribusiness, telecom, media, information technology and life sciences sectors. |
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| "While our stress will be to increase fee-based income, activities such as debt funding and underwriting involves fund exposure and being a triple A rated entity, Rabo India has to follow stringent capital adequacy norms," said Sanjiv Bhasin, managing director and CEO of RIF. |
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| The company had a gross loan portfolio of Rs 3,135 crore as on March 31, 2006. |
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| The gross non-performing assets were 2.14 per cent at end of March 2006, down from 4.7 per cent a year ago due to recoveries and prevention of slippages during the year. |
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| RIF had reported a net profit of Rs 52 crore in 2005-06 against Rs 23.7 crore in 2004-05. Its net profit for the first quarter ended June 30, 2006 was Rs 70 lakh. |
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