Rastriya Banijya Bank posts staggering 223.44% surge in Q3 profit

ShareSansar May 18:

Rastriya Banijya Bank has posted 223.44% rise in net profit for the third quarter of the current fiscal year 2071/72.

The bank’s net profit rose to Rs 4.06 arba in the period compared to Rs 1.25 arba 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 has mobilized deposits of Rs 1.03 kharba in the 3rd quarter of the ongoing fiscal as against Rs 99.54 arba in the corresponding quarter last year. Likewise, it extended loans of Rs 69.77 arba, up from Rs 53.49 arba.

Bank’s net interest income has increased from Rs 2.55 arba in the corresponding quarter last year to Rs 3.06 arba in the third quarter of 2071/72.

It posted an operating profit of Rs 81.10 crore.

The bank’s non-performing loan (NPL) has gone down from 4.77% in the third quarter of the last fiscal to 3.53 % this year.