Century Bank reports impressive profit rise of 57.1 % in Q2

ShareSansar, January 24:

Century Commercial Bank Limited has reported an impressive rise in profit in the second quarter of the current fiscal year 2070/71.

Publishing the unaudited quarterly report for the second quarter today, the commercial bank has stated that it has posted a profit rise of 5.71 percent in the second quarter as its net profit rose to Rs 3.95 crore, up from Rs 2.51 crore in the corresponding quarter last fiscal year.

The profit of the bank, which is just issued an IPO worth Rs 94 crore, was basically fuelled by its core business.

Its net interest income has surged to Rs 16.32 crore up from Rs 14.13 crore in the second quarter last fiscal year. Similarly, the bank also succeeded in mobilizing Rs 14.28  arba in deposit and Rs 12.33 arba in loan as compared to Rs 8.16 arba in deposit and Rs 7.20 arba in the corresponding quarter last year.

The bank’s non-performing loan has, however, slightly gone up from 0.45 percent in the second quarter of the last fiscal year to 0.91 percent as of now.

Its EPS (annualized) stands at Rs 7.02.