Agriculture Dev. Bank & Himalayan Bank profit up swings by 46.31% & 35.83% respectively in Q1

Agricultural Development Bank Limited (ADBL) has posted  impressive net profit growth by  46.31% in Q1 of the fiscal year 2073/74.The commercial bank has earned a net profit of Rs 42.23 crore in Q1 up from Rs 28.86 crore in the corresponding quarter of the previous fiscal year. As per the unaudited financial report for the first quarter today, the commercial bank has collected deposits of Rs 85.66 arba in Q1 compared to Rs 79.77 arba in the corresponding quarter of the previous fiscal year. It has floated loans of Rs 81.13 arba in Q1 compared to Rs 66.38 in the corresponding quarter of the previous fiscal year. The commercial bank’s net interest income has risen to Rs 1.61 arba in Q1 up from Rs 1.09 arba in the corresponding quarter previous fiscal year. Agricultural Development Bank’s paid up capital remains at Rs 10.37 arba (common stock of Rs.3.93 arba, common stock call in advance of Rs 1 arba and irredeemable preference shares of Rs 5.43 arba) with reserve and surplus of Rs 8.80 arba. The commercial bank’s NPL dropped to 3.83 % from 5.15%. ADBL’s EPS stands at Rs 36.91, net worth per share at Rs 321.23, and P/E ratio at 18.51 times. Himalayan Bank Limited (HBL) has registered impressive profit rise of 35.83 percent in the first quarter of the fiscal year 2073/74. According to the unaudited financial report published by the commercial bank today, its net profit has surged to Rs 43.84 crore in the first quarter up from Rs 32.27 crore in the corresponding quarter of the last fiscal year 2072/73. The commercial bank’s net interest income has raised to Rs 82.61 crore in Q1 as compared to Rs 69.72 crore in the corresponding quarter of the previous fiscal year. It has paid up capital of Rs 4.96 arba with reserve of Rs 4.81 arba in first quarter. Deposits collection of Himalayan Bank reached to Rs 93.22 arba in Q1 from Rs 77.52 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 72.18 arba in Q1 whereas in the same period last year the figure stood at Rs 57.49 arba. Meanwhile, its non-performing loan (NPL) dropped to 1.17 percent in Q1 from 3.35 percent in the previous year report. Its earning per share (EPS) stand at Rs 38.98, net worth per share at Rs 217.33 , and the P/E ratio at 41.61 times.