NHB net profit rises by 16% to Rs 450 crore in FY13

Bank earned net profit of Rs 387 cr in the previous fiscal

National Housing Bank (NHB) today posted 16% jump in net profit at Rs 450 crore for 2012-13.

The bank has earned highest ever profit in 2012-13. The bank had earned a net profit of Rs 387 crore in the the previous fiscal, NHB Chairman and Managing Director R V Verma said.

Total interest income for the fiscal ended June 30, 2013 rose by 21% to Rs 3007.33 crore against Rs 2,478 crore in the previous fiscal.

NHB follows July-June fiscal year.

The loans and advances of the bank increased by 22% to Rs 34,603 crore from Rs 28,490 crore a year ago.
 
The bank's total loan disbursements during the year were Rs 17,635 crore against Rs 14,454 crore, a 22% rise.

Out of which, the share of rural housing was about 44%, aggregating to Rs 7,718 crore, he added.

The bank crossed the cumulative refinance disbursement of 1,00,000 crore during the year 2012-13.

Capital adequacy ratio of the bank stood at 16.59% while net interest income was 2.23% at the end of June, 2013.