NMB Bank registers negligible rise in profit of 0.72%; NPL mere 0.40%

NMB Bank Limited (NMB) has registered meager increase in profit of 0.72 percent in the first quarter of the last fiscal year 2072/73. According to the unaudited financial report published by the commercial bank today, its net profit has increased to Rs. 14.73 crore in first quarter from Rs. 14.62 crore in the corresponding quarter of the last fiscal year 2071/72. This profit is solely of the NMB bank not the merged entities as the joint operation of merged entities started from the second quarter i.e. Kartik 01, 2072. Earlier, NMB Bank Limited, Pathibhara Bikash Bank Limited, Bhrikuti Development Bank Limited, Prudential Finance Company Limited and Clean Energy Development Bank Limited has completed merger process forming NMB Bank Limited. NMB Bank’s net interest income has also decreased to Rs. 24.72 crore in Q1 as compared to Rs. 25.82 crore in the corresponding quarter. It’s paid up capital remains at Rs. 2.40arba. The bank amassed huge amount of deposits in the Q1 of the ongoing fiscal year. Deposits collection reached Rs. 36.36 arba in Q1 from Rs 25.55arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 27.65arba in Q1 whereas in the same period last year the figure stood at Rs. 21.11arba. Its non-performing loan has drop to 0.40 percent in Q1 up from 0.53 percent in the previous year report. Its Earning per share (EPS) stand at Rs. 23.81, net worth per share at 144.03, and the P/E ratio at 21.29 times.