Everest Bank's net profit rises by 19% in Q1; See the major highlights

Everest Bank Limited (EBL) has published its first quarter report based on the Nepal Financial Reporting Standards (NFRS). The bank has reported a decent rise in the net profit by 19.17% in the first quarter of the fiscal year 2075/76.

The bank’s profit has increased from 53.14 crore in the first quarter of the fiscal year 2074/75 to Rs 63.33 crore in the first quarter of the fiscal year 2075/76. In the first quarter of the FY 2075/76, the bank has Rs 49.01 crore as Free Profit after Regulatory Adjustments. It has deducted Rs 14.31 crore as regulatory adjustment as per NRB directive.

The bank’s deposit has decent growth rate of 21.10% to Rs 1.20 kharba and loans and advances have also increased by 26.21% to Rs 1.03 kharba in the first quarter. The borrowings of the bank have increased to Rs 74.53 crore from Rs 1.66 crore.

With the increase in its business, the net interest income of the bank has also increased to Rs 90.48 crore from Rs 75.74 crore of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.10 arba with Rs 8.63 arba as its reserve.

The Non-Performing Loan (NPL) has also decreased to 0.21% from 0.26%.

In the first quarter, the EPS of the bank stands at Rs 29.95. The net worth per share stands at Rs 206.51.

Major Highlights: