The Business Development Bank of Canada revealed its fiscal 2016 results, boasting that it delivered its services to a “record number” of entrepreneurs.
In total, BDC committed $4.8 billion in loans to entrepreneurs for the period ending March 31, 2016 — up from $4.7 billion last year. BDC’s total portfolio now stands at $26 billion committed to at least 42,000 direct and indirect clients. The bank earned $537.7 million in net income, up from $490.7 million in fiscal 2015. BDC will pay a dividend of $68.6 million to the Government of Canada. Profits earned will be reinvested in BDC’s financing operations.
