NDEP Development Q3 profit rises to Rs 14.68 cr; NPL declines sharply to 4.20%

ShareSansar, May 20:

NDEP Development Bank has posted a massive increase in net profit for the third quarter of current fiscal year.

As per the unaudited financial report for the third quarter published today, the development bank’s net profit in Q3 rose to Rs 14.68 crore which compares to Rs 17.77 crore loss reported in corresponding quarter of previous year 2070/71.

The development bank has mobilized deposits of Rs 4.41 arba in the 3rd quarter of the ongoing fiscal as compared to Rs 4.74 arba in the corresponding quarter last year. Likewise, it extended loans of Rs 3.44 arba, up from Rs 3.08 arba.

Bank’s net interest income has increased from Rs 12.63 crore in the corresponding quarter last year to Rs 14.49 crore in the third quarter of 2071/72.

The bank’s non-performing loan (NPL) has gone down significantly from 14.60% in the third quarter of the last fiscal to 4.20 % this year.

Its EPS stands at Rs 25.21, net worth per share at Rs 107.48 and CD ratio at 68.33%.