Nepal Bank Q3 profit declines 6.08% to Rs 36.06 crore

ShareSansar May 28:

Nepal Bank has posted 6.08% decline in net profit for the third quarter of the fiscal year 2071/72.

The bank’s net profit declined to Rs 36.06 crore in the period compared to Rs 38.40 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’s deposits rose to Rs 68.69 arba in the 3rd quarter of the ongoing fiscal as against Rs 65.90 arba collected in the corresponding quarter last year. It extended loans of Rs 49.58 arba, up from Rs 38.60 arba.

Bank’s net interest income has increased from Rs 1.85 arba in the corresponding quarter last year to Rs 2.02 arba in the third quarter of 2071/72.

It posted an operating loss of Rs 3.13 crore.

The bank’s non-performing loan (NPL) slid to 4.48% from 5.33% reported in the third quarter of the last fiscal year.

Its EPS (annualized) stands at Rs 7.44, net worth per share at Rs 57.35, P/E ratio (annualized) at 40.60 times  and CD ratio at 68.75%.