Sidbi's Record Profit Surge: A Beacon of Growth in MSME Sector
The Small Industries Development Bank of India (Sidbi) reported a 19.5% increase in net profit, reaching Rs 4,811 crore for FY 2024-25. The bank's balance sheet surpassed Rs 5.6 lakh crore with substantial growth in loans and asset quality. It remains committed to MSME growth and climate initiatives.
- Country:
- India
The Small Industries Development Bank of India (Sidbi) on Monday announced a remarkable 19.5% increase in net profit, marking an all-time high of Rs 4,811 crore for the financial year 2024-25.
In stepping towards expansion, Sidbi's balance sheet exceeded Rs 5.6 lakh crore, alongside an 8.7% asset base growth. Guided by innovative technological advances, the bank continues to support the MSME sector, enhancing loan accessibility and promoting green initiatives.
As articulated by Chairman Manoj Mittal, Sidbi is reinforcing its core mission to bolster MSME resilience, foster growth, and integrate environmental strategies, pursuing broader outreach with an expanding branch network.
(With inputs from agencies.)
Advertisement
Google News