Bank of Kathmandu makes a satisfactory growth in Q2; earns net profit of Rs 33.07 crore

ShareSansar, January 25:

Bank of Kathmandu Limited has posted a profit growth of 32.05 percent in the second quarter of the current fiscal year 2071/72.

According to an unaudited financial statement published today, the bank disclosed that it achieved a net profit of Rs 33.07 crore in the second quarter of the current fiscal year compared to the net profit of Rs 25.04 crore in the corresponding period of last fiscal year 2071/72.

The bank’s net interest income reached Rs 70.19 crore in the second quarter this year, which is a growth of 20.13 percent compared to the income of the same period last year.

While the bank was required to provision Rs 3.82 crore in the second quarter this year for the possible losses, it could manage to write back a only Rs 68.16 lakh that it had provisioned in the previous years for possible losses.

Bank of Kathmandu Limited observed a satisfactory growth in terms of deposit collection and loan supply during the review period. While the bank mobilized Rs 34.15 arba on deposit in the second quarter this year, it extended a total of Rs 30.60 arba on loans.

It had mobilized a total of Rs 29.31 arba on deposit and Rs 24.83 arba on loans in the corresponding period of the last fiscal year 2071/72.

The bank also managed to slash its non performing loan (NPL) to 1.12 percent in the second quarter from 1.33 percent in the corresponding period of last year.

The annualized earning per share (EPS) and the net worth per share of the bank stand at Rs 31.20 and Rs 182.97 respectively. The P/E ratio remained 18.08 times.