Bishwa Bikash Bank reports 34 % net profit growth by fourth quarter, Pathivara posts 88%

ShareSansar, August 5:

Bishwa Bikash Bank Limited has reported 34 percent rise in net profit in the last fiscal year 2070/71.

Publishing an unaudited financial report for the fourth quarter today, the development bank based in Pokhara has stated that its net profit rose to Rs 7.87 crore from Rs 5.87 crore at the end of the previous fiscal year 2069/70.

Its crore business propelled the profit as it net interest income surged to Rs 16.58 crore up from Rs 14.32 crore.

Bishwa mobilized Rs 3.79 arba in deposit and Rs 3.17 arba in loan by the fourth quarter as compared to Rs 3.11 arba in deposit and Rs 2.61 arba in loan at the end of the corresponding quarter.

Bishwa’s profit was stemmed by Rs 84.72 lakh it had to provision for possible loss in the fourth quarter.

Its non-performing loan has marginally dipped to 0.21 percent, down from 0.28 percent at the end of the previous fiscal year.

It may be noted that all the major development banks based in Pokhara have come up with significant profit growth by the fourth quarter.

Meanwhile, the Morang-based Pathivara Bikas Bank Limited has reported impressive profit growth of 88 percent in the fourth quarter.

According to its unaudited financial report for the fourth quarter, its net profit has surged to Rs 3.46 crore up from Rs 1.84 crore.

Pathivara’s net interest income has risen to Rs 8.56 crore from Rs 6.68 crore.

It mobilized Rs 1.53 arba in deposit and Rs 1.10 arba in loan by the end of the fourth quarter, up from Rs 1.45 arba in deposit and Rs 96.21 crore in loan, which it had mobilized at the end of the corresponding quarter of the previous fiscal year.

It also provisioned Rs 12.98 lakh for possible loss in the fourth quarter.

Its NPL has also decreased from 0.90 percent to 0.51 percent.

Pathivara’s EPS (annualized) now stands at 30.09, P/E ratio at 11.33 times, and its net worth per share is priced at Rs 142.87.