Garima & Bhargav Bikas Bank earns Rs 22.37 crore & 2.58 crore respectively in Q4

Pokhara based Garima Bikas Bank Limited (GBBL) has reported impressive rise of 37.12 percent net profit for the fourth quarter of the last fiscal year 2072/73. According to unaudited financial statement published today, its net profit has increased to Rs 22.37 crore in fourth quarter, up from Rs 16.31 crore in the corresponding quarter of the previous fiscal year 2071/72. Garima Bikas bank also amassed huge amount of deposits in the Q4 of the ongoing fiscal year. Deposits collection reached Rs 9.22 arba in Q4 from Rs 6.35 arba in the corresponding period last year. Likewise,the bank extended loans and advances of Rs 8 arba in Q4 whereas in the same period last year the figure stood at Rs 5.50 arba. The net interest income of the development bank reached Rs 45.99 crore in Q4 of FY 2072/73 up from Rs 34.11 in the previous FY 2071/72. Garima has a paid up capital of Rs 85.32 crore with reserve of Rs 34.96 crore. Its non-performing loan (NPL) has risen to 0.30% in Q4 from 0.24% in the same quarter last year. The bank’s CD ratio stands at 76.84%. The development bank earning per share (EPS) stands at Rs 26.22 and net worth per share at Rs 140.99. Meanwhile, Nepalgunj based Bhargav Bikas Bank Limited (BHBL) has reported decrease in net profit of 16.50 percent in the fourth quarter of the last fiscal year 2072/73. According to the unaudited financial report published by the development bank today, its net profit has decline to Rs 2.58 crore in fourth quarter from Rs 3.09 crore in the corresponding quarter of the last fiscal year 2071/72. The bank operating profit increased to Rs 4.05 crore in Q4 from Rs 2.33 crore in the corresponding quarter. Its net interest income slightly increased to Rs. 6.11 crore in the fourth quarter from Rs. 4.46 crore in the corresponding quarter. It’s paid up capital remains at Rs. 12 crore and has reserve of Rs 4.27 crore in Q4. The bank collected deposits of Rs. 1.54 arba in Q4, up from Rs. 1.03 arba in the corresponding period last year.  Likewise, it has extended loans and advances of Rs. 1.14 arba from Rs. 75.30 crore. It’s NPL drop to 0.12 percent in Q4 from 0.21 percent in the previous year report. Bhargav’s EPS stands at Rs. 21.55, net worth per share at Rs. 135.59, and P/E ratio at 25.76 times.