Everest earns Rs 1.55 arba profit; Deposit, Loan mobilization lower than Q3

ShareSansar, August 15

Everest Bank Ltd has posted a profit growth of Rs 7.86 crore in the fourth quarter of the last fiscal year 2070/71 due to the growth in the bank’s core business.
 
According to the unaudited financial statement of the bank published today, the net profit of the bank rose to Rs 1.55 arba in the last fiscal year, a jump from the profit of Rs 1.47 arba in the corresponding period of the previous fiscal year 2069/70.

The net interest income of the bank increased to Rs 29.19 arba from Rs 27.57 arba in the previous year.

It provisioned Rs 7.37 crore last year for the possible loss while it was able to write back Rs 74.76 lakh from the amount provisioned earlier for the possible loss.

The bank mobilized Rs 62.11 arba in deposit while floated a total of Rs 48.45 arba in loans, which is slightly higher than the mobilization of Rs 57.72 arba in deposit and Rs 44.2 arba in loan in the previous year.

The mobilization of deposit and loans in the fourth quarter, however, plummeted in comparison to the third quarter of the last year.

The deposit and loan mobilization of the bank was Rs 62.76 arba and Rs 50.64 arba respectively in the previous quarter of the last fiscal year 2070/71.

Non-performing loan of the bank remained at Rs 0.62 percent.

The EPS of the bank stands at Rs 86.04, P/E ratio 30.58 times while net worth per share is Rs 346.94.