Fewa Bikas Bank earns Rs. 28.53 crore in Q2

Fewa Bikas Bank has shown 65% increase in its operating profit in the second quarter of the current fiscal year, compared to that of same period last year. The operating profit in the 2^nd quarter of current fiscal year stands at Rs. 28.53 crores. The deposit of this company amounts to Rs.12.59 arba and loan amounts to Rs. 11.14 arba, which is a growth of 20% and 26% respectively. Its credit to deposit ratio (CD) stands at 78.17%, whereas liquidity ratio stands at 25.67%. The Non-Performing Loan has also decreased drastically, as compared to that of previous year. The bank is currently providing attractive services through its 29 branches. ABBS ATM, SMS Banking, Locker Service, Gold loan, Remittance, 365 days banking service are some of the services provided by this bank. The bank is in a process for merger with Gandaki Bikas Bank, and has also received Letter of Intent (LOI) from Nepal Rastra Bank (NRB). AGMs of both these banks have approved for merger. The capital of the merged bank will reach Rs. 1.84 arba, which will then be aided by 25% right shares. The company has also passed a proposal to shift its head office to Kathmandu, which is subject to approval from Nepal Rastra Bank (NRB).