Excel Dev Bank profit surges by 60.11% in Q1; Kasthamandap Dev. Bank profit dips by 56.27%

Excel Development Bank Limited (EDBL) has reported a net profit rise of 60.11% in the first quarter of the fiscal year 2073/74. As per the unaudited financial statement published today, its net profit has surged to Rs 2.77 crore in first quarter, up from Rs 1.73 crore in the corresponding quarter of the previous fiscal year 2072/73. Excel development bank has collected Rs 3.79 arba in deposits in Q1 up from Rs 2.96 arba in the corresponding quarter of previous fiscal year. Likewise it has extended loans and advances of Rs 3.30 arba from Rs 2.28 arba. The net interest income of the development bank reached Rs 6.83 crore in Q1 of FY 2073/74, up from Rs 3.81 crore in the previous FY 2072/73. The paid up capital of the development bank remains at Rs 30.76 crore and reserve at Rs 19.02 crore. Its non-performing loan (NPL) has increased to 1.54 % in Q1 from 1.12 % in the same quarter last year. The development bank’s annulaized EPS stands at Rs 36.05, net worth per share at Rs161.83 and P/E ratio at 19.97 times. Likewise, Kasthamandap Development Bank Limited (KDBL) has posted net profit of Rs 5.03 crore for the first quarter of the fiscal year 2073/74. According to unaudited financial statement published today, its net profit has decreased to Rs 5.03 crore in first quarter of the FY 2073/74, from Rs 11.51 crore in the corresponding quarter of the previous fiscal year 2072/73. Net profit of the development bank has decreased by 56.27% in the ongoing quarter. Deposits collection of Kasthamandap Dev Bank has reached Rs 7.19 arba in Q1 from Rs 5.49 arba in the corresponding quarter of previous fiscal year. Likewise, the development bank extended loans and advances of Rs 6.01 arba in Q1 whereas in the same period last year the figure stood at Rs 4.15 arba. The net interest income of the development bank reached Rs 8.03 crore in Q1 of FY 2073/74 up from Rs 6.02 crore in the same quarter of FY 2072/73. Kasthamandap Development Bank has a paid up capital of Rs 67.98 crore with reserve of Rs 51.28 crore. Its non-performing loan (NPL) has decreased to 0.98 % in Q1 from 3.88 % in the same quarter last year. The development bank’s annualized earnings per share (EPS) stands at Rs 29.62 , net worth per share at Rs 165.38 and PE ratio at 16.88 times. KDBL had issued 4:1 (25%) right shares to its existing shareholders from Kartik 26, 2073. Kumari Bank and Kasthamandap Development Bank had signed an agreement for the acquisition process.