NABFINS finalised its financial statements in record time of 29 days after the financial year was closed. The balance sheet and profit and loss accounts of the Company, for year 2021-122 duly audited by the statutory auditors were approved in the Board meeting held on 29 April 2022. The meeting was held in physical form after two years’ time, since the eruption of Covid pandemic in March 2020. The Board meeting was chaired by Shri S V Renganath, Retd IAS and ex. Chief Secretary Karnataka and Chairman of the Board. The Board members attended included Shri Niraj Kumar Verma, CGM KARO, Shri T Ramesh CGM, NABARD, Ho, Shri Udaibhaskar Reddy, ex GM, Indian Bank, Dr. Deepali Pant Joshi, ex ED RBI, Shri Ajay Kumar Kapoor,ex DMD, SIDBI and Shri Sreenivasa Rao, GM UBI. Shir Jiji Mammen,MD and member of Board elaborated performance of the company during the year Tthe Board members appreciated the performance of the Company during the difficult period of pandemic and also complimented for the early finalisation of accounts.
NABFINS ended the year with Rs 1888 cr Balance sheet size as per IGAAP ( Rs 1722.91cr as per IndAS), the highest number achieved by the company so far. The loan outstanding stood at Rs 1736.47 cr. The Profit Before Tax is at Rs 42.73 cr and Profit After Tax is at Rs 31.72 cr. The Company had 1430 staff at the end of the year with 272 branches operating in 16 States. Operations in Rajasthan was started for the first time during the year. The per staff business stood at Rs 1.20 cr per staff.
A few pictures of the 123rd Board meeting of the company held on 29 April 2022 is given below:
