Garima Bikas Bank profit up swings by 60.50% to Rs 4.60 crore in Q1; paid up at Rs 1.08 arba

Garima Bikas Bank Limited (GBBL) has reported impressive rise of 60.50 percent net profit for the first quarter of the fiscal year 2073/74. According to unaudited financial statement published today, its net profit has increased to Rs 4.68 crore in first quarter of the FY 2073/74, up from Rs 2.91 crore in the corresponding quarter of the previous fiscal year 2072/73. Garima Bikas Bank also collected huge amount of deposits in the Q1 of the ongoing fiscal year. Deposits collection reached Rs 12.01 arba in Q1 from Rs 6.59 arba in the corresponding quarter of previous fiscal year. Likewise, the bank extended loans and advances of Rs 10.82 arba in Q1 whereas in the same period last year the figure stood at Rs 5.93 arba. The net interest income of the development bank reached Rs 13.33 crore in Q1 of FY 2073/74 up from Rs 7.95 crore in the same quarter of FY 2072/73. Garima Bikas Bank has a paid up capital of Rs 1.08 arba with reserve of Rs 50.66 crore. Its non-performing loan (NPL) has risen to 0.66% in Q1 from 0.31% in the same quarter last year. The development bank’s annualized earnings per share (EPS) stands at Rs 17.33, net worth per share at Rs 146.89 and PE ratio at 20.55 times.