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adProperty News

     
 
Nhb reaches out
Source : The Hindu Published On : 2011-01-10 City : Bangalore

The National Housing Bank, India's apex housing finance institution, in its efforts to reach out to rural areas and the poor, is engaging microfinance institutions in a big way.

“By providing long-term financial support, technical assistance and training, the bank has engaged many MFIs/NGOs [microfinance institutions and non-governmental organisations] in housing finance,” said a statement on the bank's performance for the year ending June 2010.

It said that the bank provided long-term financial support, technical assistance and training to engage many such institutions and organisations in housing finance. “For this, the bank has sanctioned Rs.83.92 crore to 23 microfinance institutions in nine States covering 16,207 housing units (urban and rural),” it said. The bank recorded a 19 per cent growth for the year ending June 30, 2010 to log a net profit of Rs.280 crore over the previous year. Sanctions by the bank for the period touched Rs.12, 715 crore and disbursements Rs. 8,160 crore.

Growing profit

Operating profit showed a year-to-year growth of 25 per cent to touch Rs.444 crore and net profit per employee touched Rs.3.15 crore, growing 20 per cent annually. The bank has financed 30.24 lakh housing units under the Golden Jubilee Rural Housing Finance Scheme and Rural Housing Fund. A total of 28.59 lakh housing units were financed under both these programmes between 1997 and 2010.

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