National Housing Bank net profit up 98 per cent

Mumbai, Aug 25: National Housing Bank (NHB), the apex housing finance institution, has posted a net profit of Rs 87 crore for the year ended June 30 this year, an increase of 98 per cent over the previous year.

The loans and advances increased to Rs 16,268 crore, a growth of 30 per cent in 2005-06. Forty-four per cent of the disbursements of Rs 5,997 crore during 2005-06 went towards rural housing and the rural housing loan portfolio constituted Rs 9,261 crore as on June 30, the NHB release said here today.

With a collection efficiency of 100 per cent, the net non- performing assets (NNPAs) were nil. The gross non performing assets (GNPAs) were Rs 27.40 crore and the ratio of GNPAs to gross loans and advances was 0.17 per cent, the release added.

UNI