Everest profit decreases by 7% to Rs.36.37 crore

Everest Bank Limited (EBL) stated 7.01 percent decrease in its net profit for the first quarter of the current fiscal year 2072/73. In the unaudited financial report for the first quarter, the bank has stated that its net profit has decline to Rs.36.37 crore from Rs.39.11 crore as compared to the corresponding quarter of the fiscal year 2071/72. The bank’s net interest income has decreased to Rs.65.94 crore from Rs.71.21 crore as compared to the corresponding quarter. This is due to both decrease in interest income and increase in interest expenses. The bank has increased its deposit collection to Rs.76.01 arba from Rs.66.16 arba in the previous year but its loan and advances has dropped to Rs.51.32 arba from Rs.53.55arba. Its non- performing loan (NPL) has risen to 0.67 percent in Q1 from 0.63 percent as compared to the corresponding quarter of last year. Everest Earning per Share (EPS) stands at Rs.72.11, the net worth per share at Rs.360.21 and the P/E ratio is 42.70 times.