International Development Q3 profit rises by an impressive 46.32% to Rs 5.94 cr

ShareSansar, May 19:

International Development Bank Limited (INDBL) has posted 46.32% rise in net profit for the third quarter of the current fiscal year 2071/72.

The bank’s net profit rose to Rs 5.94 crore in the period compared to Rs 4.06 crore reported in the corresponding quarter of the fiscal year 2070/71, as per the unaudited financial report for the third quarter published today.

The bank has mobilized deposits of Rs 4.51 arba in the 3rd quarter of the ongoing fiscal as against Rs 3.30 arba in the corresponding quarter last year. Likewise, it extended loans of Rs 3.99 arba, up from Rs 2.62 arba.

Bank’s net interest income has increased from Rs 14.39 crore in the corresponding quarter last year to Rs 16.98 crore in the third quarter of 2071/72.

It posted an operating profit of Rs 7 crore.

The bank’s non-performing loan (NPL) has gone down from 4.18% in the third quarter of the last fiscal to 2.04% this year.

Its EPS (annualized) stands at Rs 11.25, net worth per share at Rs 116.95 and CD ratio at 76.62%.