National Housing Bank's FY14 net profit rises 8 per cent to Rs 487 crore

NEW DELHI: National Housing Bank (NHB) today said its net profit in 2013-14 increased by 8 per cent to Rs 487 crore.

"Net profit increased from Rs 450 crore in FY 2012-13 to Rs 487 crore in FY 2013-14. Net Interest Margin (NIM) continues to be healthy at 2.27 per cent," it said in a release.

NHB follows July-June financial year. The total income of NHB increased by 16.4 per cent year-on-year to Rs 3,518 crore from Rs 3,024 crore, it said.

Total interest income increased from Rs 3,007 crore in FY 2012-13 to Rs 3,502 crore in 2013-14.

The disbursements of the bank increased by 1 per cent from Rs 17,635 crore in FY 2012-13 to Rs 17,890 crore in FY 2013-14.

"Net Non-Performing Assets (NPAs) are at Rs 111.22 crore, which is 0.28 per cent of the total advances as at the end of June 2014," it said.

NHB is the apex regulatory and refinancing institution for housing finance companies.