Cosmos Dev Bank organized review program; net profit surged by 64% till FY 2072/73

Cosmos Development Bank has organized a review program on Shrawan 5, 2073. CEO Hridayaraj Ghimire of the bank summarized the banking activities and reviewed financial report of the FY 2072/73. The review program revealed that the development bank’s operating profit reached to Rs Rs 2.42 crore till date. ‘After allocating employee bonus and income tax ,the bank’s  net profit increased to 1.54 crore in the fiscal year 2072/73.As a result its earning per share(EPS) increased by 31 percent.’ said Mr. Ghimire. The net profit increased by 64% as compared to the corresponding fiscal year. Also the deposits and loans amount has increased by 38% and 37% respectively. The bank has transacted amount worth Rs 76 crore through remittance. At present the bank has 19, 000 customers. The bank, in addition, is issuing 1:1 (100%) right share from Shrawan 11, 2073 to increase its existing paid up capital up to Rs 5.03 crore. Currently the bank is providing services through 3 branch offices and one extension counter.