Ekata Bikas Bank profit grows 79%; Jhimruk’s profit surges 50%

ShareSansar, August 8:

Ekata Bikas Bank Ltd (EBBL) has posted an impressive profit growth of 79 percent in the fourth quarter of the last fiscal year 2070/71.

Publishing the unaudited quarterly financial statement today, EBBL has stated that its net profit rose to 1.99 crore last year, up from Rs 1.11 crore in the corresponding period of the previous year.

The net interest income of the bank surged to Rs 4.5 crore as compared to the net interest income of Rs 2.75 crore it made in the previous year. The bank has provisioned Rs 48.46 lakh in the last fiscal year for the possible loans.

Similarly, profit of Jhimruk Bikas Bank Ltd (JHBL) has surged 50 percent in the fourth quarter of the last fiscal year 2070/71 as compared to the corresponding previous year quarter ending, according to the unaudited financial result published by the bank today.

The bank has stated that it earned a net profit of Rs 98.41 lakh last year, up from Rs 65.73 lakh in the previous year. Pyuthan-based development bank has also managed to write back Rs 47.64 lakh from the amount that it had provisioned for possible loss in the previous year.

The bank mobilized Rs 43.92 crore in deposit and Rs 36.37 crore in loans last year, up from Rs 31.98 crore in deposit and 26.3 crore in loan in previous year.

Its EPS stands at Rs 23.71, net worth per share Rs 129.20 and P/E ratio at 14.93 percent.