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        During the year the Corporation has been able to sustain its revival by registering a nominal net profit of 1450 lakhs for 11th consecutive year notwithstanding downfall in the industrial environment of the state. Lack of sufficient operating fund limiting the loan portfolio growth, the revision of pay to the employee and payment of interest on borrowing were attributable to the decline in the net profit of the Corporation despite sizeable increase in sanction and disbursement portfolio and income level of the Corporation during the year. Other performance highlights of the Corporation are enumerated below for the information of the shareholders:

  • The total loan sanction during the year amounted to 1740.00 lakhs and total loan disbursement amounting to 1606.70 lakhs from 1056.15 lakhs and 46.70 lakhs in the previous year registering growth of 64.75% and 69.72% respectively;

  • During the year total recovery of loan increased to 2149.40 lakhs from   2087.08 lakhs in the previous year  registering a marginal growth of 2.99%;

  • The total income of the Corporation during the year recorded at   1171.88 lakhs with an increase in interest income in comparison to the previous years and the performance of the Corporation has been reflected by our profit recorded consecutively for eleventh year;

  • In micro finance sector after successful implementation of the prestigious 'Chief Minister's Micro Finance Scheme a new scheme, called 'Kanaklata Micro Finance Scheme’ has been implemented to encourage the women entrepreneurs in the rural as well as semi urban & urban areas of Assam to set up their own enterprises for livelihood support of  their families and contribute towards the socio-economic development of the state and the scheme has got  tremendous response from the beneficiaries.  The micro  finance loan sanctioned amounted to   483.50  lakhs  as against the  disbursement of   660.00  lakhs during the year. The Corporation has sanctioned and  disbursed  total  loan  of    2867.26  lakhs  and   2123.76 lakhs respectively in micro finance sector and provided livelihood  support to more than 27,000 beneficiaries so far.

         Increase in sanction and disbursement and vigorous and continuous effort put on recovery from bad loans during FY 2016.17 have attributed to reduction of Cross NPA level to 27.97% as on 31-03-2017 from 36.44% as on 31.03.2016. Similarly, the Net NPA level was reduced to 8.81 % as on 31.03.2017 from 17.20 % as on 31.03.2016. It has been the primary concern of the Corporation to maintain asset quality and accordingly the Corporation by virtue of extension of its old OTS policy and the supplementary loan settlement policy which was put in place from the FY: 2015-16 for recovery from new NPAs boosted up loan recovery from old and new NPA accounts over and above normal course of recovery.

        We have made progress to contribute more for the development of the state, but we have more to do towards extending continuous financial support to industrial and service sector projects for economic growth of the state and generating more and more employment opportunities. We will continue to take decisive action to strengthen and grow our Corporation in sustainable way with our long term vision to deliver more customer friendly products and services to our clients in a professional manner. The Corporation has been receiving support and guidance from all quarters in general and Government of Assam and SIDBI in particular, and hope that it would be continued in the years to come to enable us to achieve our goals and objectives. We believe that the future of our Corporation depends on the way in which we take care of the need of our clients in most professional way.

Dated 31st July, 2017                                                                                                             Sd/-                                                                                                                                 (Anwaruddin Choudhury)                                                                                                                                         MANAGING DIRECTOR     

   
 
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