Biznextindia : The Small Industries Development Bank of India (SIDBI) held its 25th Annual General Meeting on June 26, 2023, at its Head Office in Lucknow. The audited financial results of SIDBI for the year ended March 31, 2023 were approved at the Annual General Meeting.
Sivasubramanian Ramann, IA&AS, Chairman and Managing Director of SIDBI, addressed the members and outlined SIDBI’s financial and operational performance for FY 2022–2023. SIDBI achieved the highest-ever outstanding, income, net-profit and balance sheet. SIDBI witnessed significant growth in all business spheres. SIDBI crossed the milestone figure of balance sheet of ₹4 lakh crore. SIDBI’s disbursements jumped by 93%, from ₹1,43,758 crore in FY 2022 to ₹2,76,755 crore in FY 2023. ‘Loans & Advances’ of SIDBI increased from ₹2,02,252 crore in FY 2022 to ₹3,56,439 crore in FY 2023, growth of 76%.
The Asset Base of the Bank has shown growth of 63% from ₹2,47,379 crore to ₹4,02,383 crore. In FY 2023, the Bank registered income of ₹18,485 crore, an increase of 102% over previous year and net profit of ₹3,344 crore an increase of 71% over previous year. The Earnings Per Share (EPS) was ₹58.81 in FY 2023. Gross and Net NPA ratios declined further to 0.01% and 0.00%, respectively as on March 31, 2023. The AGM approved the payment of a dividend of 20% for FY 2023.