Development banks report impressive operational profit by Q4

ShareSansar, July 20:

A number of development banks have come up with impressive fourth quarter results, according to press releases they have issued.

Garima Bikas Bank Limited has posted an operational profit of Rs 16.15 crore by the end of the fourth quarter of the fiscal year 2070/71, which is 68 percent more than the operation profit it posted in the previous fiscal year 2069/70.

Shangri-La Development Bank, another development bank based in Pokhara, has also posted an impressive operation profit of Rs 24.67 crore in the just concluded fiscal year.

The profit was also fuelled by Shangri-La’s merger Nepalgunj-based Bageshwori Development Bank.

Country Development Bank has also posted a huge operational profit by the end of the fourth quarter.

The development bank headquartered at Banepa of Kavre district has reported operational profit of Rs 5.61 crore, which is 81.68 percent higher compared to its operational profit of the previous fiscal year.

Manaslu Development Bank is another development bank to come up with sound operation profit by the fourth quarter.

The operation profit of Gorkha-based development bank has surged by four times – from Rs 54.94 lakh in the previous fiscal year to Rs 2.37 crore by the end of the last fiscal year.

Hamro Bikas Bank has also reported double growth of its operational profit in the last fiscal year as it operational profit rose to Rs 2.23 crore by the end of the fourth quarter.

Infrastructure Development Bank has also reported operational profit of a little more than Rs 19 crore by the end of the last fiscal year.