Annual Report 2003-2004
HIGHLIGHTS
Financial and Performance Highlights
| (Amount in Rs. Crore) |
2003-04 |
2002-03 |
% Change |
| 1. Net Owned Fund |
1656.78 |
1538.63 |
7.68 |
| 2. Disbursement |
3297.38 |
2782.78 |
18.49 |
| 3. Total Assets |
13107.51 |
10289.66 |
27.39 |
| 4. Profit before Tax |
155.46 |
127.50 |
21.93 |
| 5. Profit after Tax |
118.13 |
120.74 |
(-) 2.16 |
| 6. Capital Adequacy Ratio (%) |
30.05 |
31.41 |
(-) 4.33 |
| 7. Return on Equity (%) |
26.25 |
26.83 |
(-) 2.16 |
| 8. Return on average working funds |
1.03 |
1.39 |
(-) 25.90 |
| 9. Staff Productivity |
136.57 |
117.38 |
16.35 |
Other Highlights
· Out of the total refinance disbursement during the year, Rs. 1,700.88 crore (52.29%) was disbursed under Golden Jubilee Rural Housing Finance Scheme as against Rs. 335.96 crore disbursed during the previous year.
· The Bank maintained its enviable track record of NIL Net NPA as at June 30, 2004.
· The Bank successfully launched four issues of mortgage-backed securities amounting to Rs.228.45 crores.
· During the year the Bank introduced a short term facility to enable HFCs to tide over the temporary facility to tide over the temporary liquidity constraints faced by them
· NHB’s debt instruments were rated as AAA(Ind) by Fitch Ratings India Private Limited and “CARE AAA” by Credit Analysis and Research Limited, denoting highest quality carrying negligible investment risk.
· Central Government, at NHB’s request, notified 23 Housing Finance Companies, registered with NHB as financial institutions for the purpose of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest [SARFAESI] Act, 2002.
· The Bank amended the Housing Finance Companies (NHB) Directions, 2001 during the year 2003-04 in respect of interest payable on repatriable deposits, investment in real estates by HFCs, classification of investments and sanction of loans to State Government Agencies and Special Purpose Vehicles promoted by State Governments against guarantees of the State Governments.
· In order to assess the financial position of housing finance companies and verify their compliance with the Directions issued by NHB, the Bank carried out 39 on-site inspections during 2003-04 as compared to 29 inspections undertaken last year.
· The Bank has set up, during the year, a ‘Fraud Cell’ to collect information from HFCs regarding frauds on housing loans generated by them in order to identify the causative factors behind such frauds.
· During the year twelve training programmes for various institutions in the housing sector were organised. The programmes were attended by participants from Housing Finance Companies, Scheduled Commercial Banks and Institutional Investors.