Prime Bank Q3 profit surges by 30.61%; NPL rises to 2.85%

ShareSansar May 14:

Prime Bank Limited has posted 30.61% growth in net profit for the third quarter of the current fiscal year 2071/72.

Publishing the unaudited financial report for the third quarter today, the bank has stated that its net profit rose to Rs 55.34 crore, up from Rs 42.37 core in the corresponding quarter of the last fiscal year 2070/71.

The bank has mobilized deposits of Rs 38.06 arba in the 3rd quarter compared to Rs 30.14 arba in the corresponding quarter last year. Likewise, it extended loans of Rs 31.13 arba, up from Rs 25.38 arba.

Prime’s net interest income has slightly risen from Rs 73.24 crore in the corresponding quarter last year to Rs 95 crore in the third quarter of 2071/72.

It posted an operating profit of Rs 70.08 crore.

The bank’s NPL has risen from 2.01% in the third quarter of the last fiscal to 2.85% this year.

Its EPS now stands at Rs 23.50, net worth per share at Rs 132.81, and CD ratio at 75.63%.