NaBFID posts net profit of Rs 1,601 cr in FY24; loans stood at Rs 35,342 cr

The National Bank for Financing Infrastructure and Development (NaBFID) reported a net profit of Rs 1,601.64 crore for the financial year ended March 2024 (FY24), up from Rs 1,046.39 crore in FY23. The year gone by (FY24) was the first full year of its business operations.

The government-owned lender’s total income grew to Rs 3,083.97 crore in FY24, up from Rs 1,127.06 crore in FY23.

Considering FY24 being the first full year of business operations, the Board advised that the income be continued to be accumulated as reserves to augment capital growth. Accordingly, the board has not recommended any dividend for FY24, the lender said in a filing with the Bombay Stock Exchange. The debentures of the lender are listed on the stock exchanges.

 

Its outstanding loans grew almost 2.6 times to Rs 35,342 crore at the end of March 2024 (FY24) from Rs 9,753 crore in March 2023. It acquired loans worth Rs 4,258 crore. The average maturity of acquired loans was 18 years.