The 20th Annual General Meeting of the Company held on September 26, 2017 approved the payment of dividend for the FY2016-17. This is the second consecutive year NABFINS has declared dividend. For the FY2016-17, NABFINS declared a dividend of Rs.3.66 crore to its shareholders as against Rs.1.83 crore for the FY 2015-16.
Despite demonetization and challenges faced owing to call for loan waivers, the Company recorded 36% growth in PBT (Rs.34.13 crore) and 133% growth in PAT (Rs.21.15 crore) compared to the corresponding previous year. The Company has exceedingly well in expanding its outreach to 6.5 Lakh households (adding 1 lakh clients during the year) spread across 11 states in 109 districts.
The dividend payable to NABARD is Rs.2.04 crore. It has retained the profit of Rs.21.15 crore and has a net-worth of Rs.226 crore as on March 31, 2017. ‘‘