SIDBI crosses Rs 2 lakh crore in cumulative disbursement

During 2010-11, SIDBI’s outstanding credit to the MSME sector increased by 22 per cent to Rs 46,331 crore. Its asset portfolio crossed Rs 50,000 crore as at March 31, 2011. The net profit after tax increased by 22 per cent to Rs 514 crore from Rs 421 crore.

The net worth of the bank increased to Rs 5,979 crore and the earnings per share (EPS) improved to Rs 11.42 from Rs 9.36. Net NPA as percentage of the total outstanding stood at 0.28 per cent as on March 31, 2011, reflecting strong monitoring, persistent follow-up and timely action by the bank, besides adequate provisioning. The bank has crossed the milestone of cumulative disbursement of Rs 2 lakh crore as on March 31, 2011 benefiting more than 325 lakh people, he said.

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