Fewa Bikas Bank reports 180% rise in Q4 net profit; Supreme Development earns Rs 7.55 crore
Fri, Aug 7, 2015 12:00 AM on Others,
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Fewa Bikas Bank (FEWAB) is formed after the merger of Biswa Bikas Bank and Fewa Finance. Fewa Bikas Bank started its operation form Ashad 28, 2072.
Fewa Bikas Bank has reported a massive 180 percent rise in net profit in the last fiscal year 2071/72.
Publishing its unaudited financial report for the fourth quarter today, the development bank has stated that its net profit rose to Rs 22.04 crore up from Rs 7.87 crore at the end of the fiscal year 2070/71.
Fewa Bikas had a good core business record during the last fiscal year. Its deposit mobilization rose from Rs 3.79 arba to Rs 9.37 arba and it has succeeded in extending Rs 8.11 arba in loan, up from Rs 3.17 arba at the end of the fiscal year 2070/71.
Its net interest income has surged to Rs 46.79 crore from Rs 16.58 crore.
It has managed to post a profit growth despite provisioning Rs 3.68 crore for possible loss.
It has also managed to write back Rs 1.59 crore by the end of the fourth quarter.
Fewa Bikas Bank’s non-performing loan has slightly increased from 0.21 percent to 0.70 percent by the end of the fourth quarter.
Its EPS (annualized) now stands at Rs 27.01, net worth per share at Rs 145.44 and CD ratio at 76.43 percent.
It has a paid up capital of Rs 81.62 crore and Reserve of Rs 37.08 crore.
Meanwhile, Supreme Development Bank Limited (SUPRME) has also reported a net profit rise of 31.68 percent in the fiscal year 2071/72.
As compared to corresponding quarter of the fiscal year 2070/71, the net profit rose from Rs 5.73 crore to Rs 7.55 crore.
The development bank accumulated deposits of Rs 4.45 arba and loan flow was Rs 3.67 arba in the fourth quarter. Both deposits and loan have increased as compared to corresponding quarter of fiscal year 2070/71.
The development bank’s net interest income has increased to Rs 20.56 crore as compared to corresponding quarter it was Rs 15.16 crore.
Its NPL is at 1.65 percent whereas in the corresponding quarter of Previous Fiscal Year it was at 4.20 percent.
Its EPS now stands at Rs 9.31, net worth per share at Rs 127.55 and the PE ratio at 16.86 times.
The development Bank has a paid up capital of Rs 81.16 crore and a Reserve of Rs 22.36 crore.
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