NIC Asia profit declines 8.38% to Rs 57 crore

ShareSansar, May 11:

NIC Asia Bank Limited (NICA) has posted 8.38% decline in net profit for the third quarter of the fiscal year 2071/72.

Publishing the unaudited financial report for the third quarter today, the bank stated that its net profit has dropped to Rs 57.47 crore from Rs 62.73 crore reported in the corresponding quarter of the last fiscal year 2070/71.

The bank has mobilized deposits of Rs 49.23 arba in the 3rd quarter compared to Rs 40.56 arba in the corresponding quarter last year. Likewise, it extended loans of Rs 41.76 arba, up from Rs 33.29 arba.

NIC Asia’s net interest income has slightly gone down from Rs 1.30 arba in the corresponding quarter last year to Rs 1.22 arba in the third quarter of 2071/72.

It posted an operating profit of Rs 76.18 crore.

The bank has managed to lower its NPL from 2.77 % in the third quarter of the last fiscal to 2.14 % this year.

Its EPS now stands at Rs 28.83, net worth per share at Rs 204.94 and CD ratio at 78.61%.