National Cooperative Bank reports net profit of Rs 68.18 crore for previous FY; only cooperative bank in Nepal transcends even many class A and B banks

National Cooperative Bank has transcended all the odds amid the COVID infection and reported a handsome growth in its net profit for the previous fiscal year 2076-77.

The only cooperative bank in the nation has reported a net profit of Rs 68.18 crore which is an increment by 36.69% when compared to the figure of the previous FY.

The unaudited financial report has shown that the cooperative bank has Rs 2.22 arba as its capital, Rs 1.04 arba in reserve, and a bad loan of 0.70%. The bank has a net interest income of Rs 1.10 arba which previously was Rs 92.22 crore.

The reported net profit is more than what some commercial banks and all of the development banks have reported so far, as per the media statement.

The cooperative bank currently has 12000 member cooperatives from all over the nation under its network, has a deposit collection figure of Rs 46.88 arba, Rs 26.69 arba disbursed as credit, as stated in the media release.