Mission Development Q3 earning skyrockets by 137%; Metro posts 59.03% profit surge

ShareSansar, May 7:

Mission Development Bank has reported a staggering growth in profit of 137% in the third quarter of the current fiscal year 2071/72.

According to the unaudited quarterly report for the third quarter today, the development bank has stated that it net profit rose to Rs 1.93 crore in the third quarter, up from Rs 81.33 lakhs in the corresponding quarter of the previous fiscal year 2070/71.

The bank net interest income reached to Rs 4.89 crore, up from Rs 2.75 crore in the corresponding quarter and its operating profit stands at Rs 3 crore

It also mobilized Rs 1.26 arba in deposit and extended Rs 95.92 crore in loan as compared to Rs 1.14arba in deposit and Rs 87.93 arba in loan in the corresponding quarter last year.

The NPL of the bank stands at Rs 0.07, CD ratio at 67.95 % and earnings per share at 16.82

Likewise, Metro Development Bank Limited has reported 59.03% rise in profit for the third quarter of the current fiscal year 2071/72.

The development bank’s profit surged to Rs 3.42 crore in the third quarter from Rs 2.15 crore reported in the same quarter of the last fiscal year.

According to an unaudited report published on Baisakh 7, Metro Development mobilized Rs 1.91 arba in deposits and Rs 1.63 arba in loans by the end of third quarter. The deposits in the corresponding quarter last year stood at Rs 1.45 arba and loans at Rs 1.23 arba.

Its non-performing loan (NPL) in Q3 is at 0.16 percent. The bank reported a CD ratio of 76.15 %.
While its EPS (annualized) stands at Rs 24.58, its net worth per share is valued at Rs 127.32.