Everest Bank reports 5.7 % net profit rise in Q2; net interest income of Rs 13 crore

ShareSansar, January 31:

Everest Bank Limited, one of the leading banks of the country, has reported a profit rise of 5.71 percent in the second quarter of the current fiscal year 2070/71.

Publicizing its unaudited quarterly report for the second quarter today, the commercial bank has stated that it has posted a net profit of Rs 67.91 crore in the second quarter, up from Rs 64.24 crore in the corresponding quarter last fiscal year.

The profit is attributable to its core business as its net interest income has surged to Rs 1.30 arba, up from Rs 1.17 arba in the second quarter last fiscal year.

Everest Bank also mobilized Rs 59.92 arba in deposit and Rs 47.96 arba in loan as compared to Rs 49.22 arba in deposit and Rs 42.19 arba in the corresponding quarter last year.

The bank has managed to pull off such an impressive profit even after provisioning 3.97 crore for possible loss.

The bank’s non-performing loan has also decreased to 0.60 percent, down from 0.70 percent in the same period of the previous fiscal year.

Its EPS (annualized) stands at Rs 75.41 and its net worth per share stands at Rs 299.07