SIDBI logs Rs 1,429 cr profit in FY18

Small Industries Development Bank of India (SIDBI) today said it has clocked its highest ever profit of Rs 1,429 crore in the fiscal ended March 2018.

The bank had reported a net profit of Rs 1,120 crore in 2016-17.

SIDBI held its annual board meeting today.

SIDBI chairman and managing director Mohammad Mustafa said the balance sheet of the bank crossed Rs 1 lakh core mark, increasing by 36.6 per cent to Rs 1,08,869 crore, during the year.

In the year 2018, SIDBI's credit outstanding to mostly small units increased by 39.5 per cent to Rs 95,291 crore, SIDBI said in a statement.

Total income in 2017-18 increased to Rs 6,600 from Rs 6,346 crore in 2016-17.

Its earnings per share increased to Rs 26.87 and the book value per share increased to Rs 265.52.

As on March 31, 2018, gross NPA percentage of the bank had declined to 0.94 per cent whereas the net NPA percentage also improved to 0.26 per cent, the bank said.