National Housing Bank net profit rises by 16 pct to Rs 450 cr in FY’13

The National Housing Bank bank has earned highest ever profit in 2012-13.

Written by PTI | Mumbai | Published: August 23, 2013 8:53 pm

National Housing Bank (NHB) on Friday posted 16 per cent 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 per cent 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 per cent 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 per cent rise.

Out of which,the share of rural housing was about 44 per cent,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 per cent while net interest income was 2.23 per cent at the end of June,2013.

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