Ace & International Dev. Bank earns Rs 6.88 crore & Rs 1.81 crore respectively in Q1; Bagmati Dev. Bank reports net loss of Rs 1.68 crore

Ace Development Bank Limited (ACEDBL) has reported 66.30 percent rise in profit for the first quarter of the fiscal year 2073/74. As per the unaudited report for the first quarter published today, the bank’s net profit rose to Rs 6.88 crore in the first quarter of fiscal year 2073/74, up from Rs 4.13 crore reported in the same quarter of the last fiscal year 2072/73. Ace Development Bank has collected Rs 7.31 arba in deposit and extended a total of Rs 6.58 arba in loans and advances in the first quarter of fiscal year 2073/74. In the previous year corresponding quarter of fiscal year 2072/73, the development bank’s deposits stood at Rs 6.80 arba and loan and advances at Rs 6.01 arba. Its net interest income surged to Rs 13.41 crore in Q1 up from Rs 8.83 crore in the corresponding quarter. It’s paid up capital remains at Rs 1.20 arba with reserve of Rs 28.09 crore. The bank reported a CD ratio of 77.54 percent. ACEDBL’s non-performing loan (NPL) has declined to 2.54 percent from 3.23 percent in the previous quarter. Annualized Earning per Share (EPS) of the bank stands at Rs 21.14; net worth per share is at Rs 122.88 and P/E ratio at Rs 21.05 times. International Development Bank Limited (INDBL) has reported 5.39% growth in net profit for the first quarter of the current fiscal year 2073/74. Publishing the unaudited financial report for the first quarter today, the development bank has stated that its net profit rose to Rs 1.81 crore in Q1 of FY 2073/74, up from Rs 1.71 crore reported in the corresponding quarter of the previous fiscal year 2072/73. International Development Bank has collected deposits of Rs 5.68 arba in Q1 compared to Rs 5.05 arba in the corresponding quarter last year. Likewise, it has extended loans of Rs 4.50 arba, up from Rs 4.46 arba. INDBL’s net interest income has risen from Rs 5.46 crore in the corresponding quarter last year to Rs 5.90 crore in the first quarter of fiscal year 2073/74. It’s paid up capital remains at Rs 77.08 crore and has reserve of Rs 23.16 crore in Q1. The development bank’s Non-Performing Loan (NPL) has inclined to 1.25% in the corresponding quarter from 0.91% in Q1. Its annualized Earning per Share (EPS) now stands at Rs 9.39, net worth per share at Rs 130.05 and P/E ratio at 21.82 times. International Development Bank Ltd (INDBL had undergone merger process with Nepal Credit and Commerce Bank Limited. The trading of the development bank has been suspended in Nepal Stock Exchange Limited (NEPSE). Bagmati Development Bank Limited (BGDBL) has registered net loss of Rs 1.68 crore in the first quarter of the current fiscal year 2073/74 from loss of Rs 21.08 lakh in the first quarter of the fiscal year 2072/73. According to the unaudited financial report published by the development bank today, the development bank net interest income has risen to Rs 45.99 lakh in Q1 as compared to Rs 35.90 lakh in the corresponding quarter. It’s paid up capital remains at Rs 65.55 crore. Deposits collection of the bank lowered to Rs 53.26 crore in Q1 from Rs 59.10 in the corresponding period last year. Likewise, it has extended loans and advances of Rs 38.92 crore  in Q1 of FY 2073/74 whereas in the same period last year the figure stood at Rs 37.76 crore . Its non-performing loan has massively increased to 16.98 percent in Q1 up from 0.81 percent in the previous year report. BGDBL annualized EPS is in negative of Rs 29.26, net worth per share at Rs 134.49, and P/E ratio is at 13.88 times. Bagmati Development Bank trading has been suspended in NEPSE following the acquisition process with Sanima Bank Limited (SANIMA).