SIDBI FY'24 net profit jumps 20% to record Rs 4,026 crore

New Delhi: Small Industries Development Bank of India (SIDBI) on Wednesday reported a 20 percent jump in its FY'24 net profit to hit an all-time high of Rs 4,026 crore.

Its overall income surged 79 percent to Rs 31,942 crore during the last fiscal, as per a statement.

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The Lucknow-headquartered bank said its asset base grew 30 percent to Rs 5.22 lakh crore as of March 2024, up from the Rs 4.02 lakh crore in the year-ago period.

Loans and advances portfolio increased by 28 percent in FY24 to Rs 4.56 lakh crore from Rs 3.56 lakh crore in the year-ago period.

The gross non-performing assets ratio stood at 0.02 percent as of March 31, 2024.

The bank, which held its annual general meeting, has also announced a dividend of 20 percent for FY24, as per the statement.

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