New Delhi, Sep 25 (Reporter) The Small Industries Development Bank of India (SIDBI) held its 26th annual general meeting (AGM) on Wednesday and approved a dividend of 20% for the financial year 2023-24 (FY24). Manoj Mittal, Chairman and Managing Director of SIDBI, addressed the members and briefed them on financial and operational performance for FY 2024. As per an official release, SIDBI surpassed the milestone figure of the balance sheet of Rs 5 lakh crore during the period under review. Its asset base grew by 30% from Rs 4,02,383 crore in FY 2023 to Rs 5,22,521 crore in FY 2024. The loans & advances portfolio of the bank increased from Rs 3,56,439 crore in FY 2023 to Rs 4,56,015 crore in FY 2024, representing a growth of 28%. During FY 2024, the bank earned an income of Rs 31,942 crore, an increase of 73% over the previous year and recorded the highest ever net profit of Rs 4,026 crore, an increase of 20% over the previous year. The earnings per share (EPS) also increased to Rs 70.82 in FY 2024. Gross NPA (non-performing asset) and Net NPA ratio of the bank stood at 0.02% and 0.00%, respectively, as on March 31, 2024. "A dividend of 20% was approved at the AGM for FY 2024," the release said. The SIDBI Chairman and Managing Director said that during FY 2025, SIDBI will continue to support the MSME sector, with focus on underserved/unserved Micro enterprises, through various initiatives including extending its direct outreach by opening 24 new branches which would cover a total of 168 MSME clusters. "Further, SIDBI will continue to work towards the development of the MSME ecosystem, explore new areas/ collaborations to address challenges faced by MSMEs to pave a way for their unhindered growth and help them mark their footprints in global value chain," he said...////...