Western Development Q3 profit surges 148.18%; Bishwa Bikas earnings soar 78.24%

ShareSansar, May 6:

Western development Bank limited has reported a massive profit rise of 148.18% in the third quarter of the current fiscal year 2071/72.

According to the unaudited quarterly report for the third quarter published today, the development bank has stated that it has raked in a net profit of Rs 2.39 crore, up from Rs 96.4 lakh in the corresponding quarter of the previous fiscal year 2070/71.

In the third quarter Western development net interest income has risen to Rs 3.56 crore, up from Rs 1.77 crore in the corresponding quarter.

It also mobilized Rs1.41 arba in deposit and Rs 1.03 arba in loan as compared to Rs 1.16 arba in deposit and Rs 79.42 crore in loan in the corresponding quarter last year.

The bank’s non-performing loan (NPL) has also dropped to 1.57 percent, down from 1.89 percent in the corresponding period of the previous fiscal year.

Its EPS (annualized) now stands at Rs 21.96 and its net worth per share is priced at Rs 156.36. The CD ratio stands at 65.13 %.

Likewise, Bishwa Bikas Bank Limited has posted a profit rise of 78.24 percent in the third quarter of fiscal year 2071/72.

According to unaudited financial statement published by the development bank, it has generated a net profit of Rs 8.65 crore in the third quarter, up from Rs 4.85 crore in the corresponding quarter of the previous fiscal year.

In the third quarter, Biswa Bikas net interest income has risen to Rs 16.88 crore, up from Rs 10.84 crore in the corresponding quarter.

Its deposits stand at Rs 4.45 arba and loans and advances at Rs 3.90 arba at the end of the 3rd quarter.

The bank has managed to minimize its nonperforming loans from 0.44% in the corresponding quarter last year to 0.20% this year.

The CD ratio stands at 77.67%.

Its EPS (annualized) stands at Rs 27.49 and net worth per share at Rs139.06.