City Dev. earns Rs 1.82 crore, Nilgiri and Miteri profit shows steady growth in Q1

ShareSansar, November 13:

Publishing the unaudited quarterly report for the first quarter today, City Development Bank Limited (CDBL) has stated that it has posted a meager profit rise of 7.78 percent in the first quarter as its net profit rose to Rs 1.82 crore, up from Rs 1.69 crore in the corresponding quarter last fiscal year.

The bank net interest income has surged to Rs 4.92 crore, up from Rs 3.48 crore in the first quarter of the last fiscal year.

Similarly, the bank collected Rs 4.19 arba in deposits and able to mobilized Rs 3.44 arba in loans and advances. Also, the bank has provision Rs 1.28 crore for possible losses, which is the major cause for the meager growth in the profit in Q1.

The bank’s non-performing loan increased to 1.86 percent in the Q1 compared to corresponding previous quarter 1.63 percent.

City banks annualized EPS is Rs 23.69, P/E ratio stands 15.83 times and net worth per share is Rs 150.27.

Similarly, there is a steady growth in net profit of Miteri Dev. Bank Limited (MDB) and Nilgiri BIkas Bank Limited (NGBL) as per their first quarter report published today. Miteri Dev. Bank able to earn Rs 1.23 crore in Q1 compared to Rs 91.27 lakhs of last fiscal year; whereas Nilgiri Bikas Bank able to earn Rs 28.75 lakh in Q1 compared to Rs 18.13 lakh of last fiscal year same period.

Net Interest Income of Miteri and Nilgiri stands at Rs 2.15 crore and Rs 69.04 lakh respectively.

Similarly, Miteri bank collects Rs 1.41 arba in deposits and able to mobilized Rs 1.14 arba in loan and advances; whereas Nilgiri Bikas Bank able to collect Rs 95 crore in deposits and mobilized Rs 65 crore in loan and advances during the same period.

Miteri banks annualized EPS stands at Rs 38, NPA is 0.42 percent and net worth per share is Rs 160.14; whereas Nilgiri Bikas bank annualized EPS stands at Rs 11.50, NPA is 0.62 percent and net worth per share is Rs 140.78.

Earlier, Pokhara based City Development Bank, Beni Based Nilgiri Bikas Bank, and Dharan based Miteri Development Bank Limited has proposed 22% bonus shares, 20% bonus shares and 25% bonus shares respectively from the profit it earned in the last fiscal year to its shareholders.

FOR FINANCIAL REPORT (CITY DEV): CLICK HERE

FOR FINANCIAL REPORT (NILGIRI): CLICK HERE

FOR FINANCIAL REPORT (MITERI): CLICK HERE