Garima Bikas Bank reports massive 168% rise in net profit; EPS and Net worth stand at Rs 13.18 and Rs 116.67 respectively

Garima Bikas Bank Limited (GBBL) has registered a massive profit rise of 168.45 percent in the first quarter of the fiscal year 2075/76.

According to the unaudited financial report published by the national level development bank today, its net profit has surged to Rs 9.18 crore in first quarter, up from Rs 3.42 crore in the corresponding quarter of the last fiscal year 2074/75. The operating profit has increased to Rs 13.43 crore from Rs 5.31 crore as compared to the corresponding quarter of last fiscal year.

Garima Bikas Bank’s deposit base has increased by 48.62% in this period. It now has deposits of Rs 22.88 arba with floated loans worth Rs 20.81 arba. In the same period of FY 2074/75, the figures stood at only Rs 15.39 arba and Rs 14.11 arba respectively. With this, it has been able to increase its net interest income by 62.21% to Rs 30.03 crore.

Its non-performing loan has slightly decreased to 0.84 percent in Q1 from 1.02 percent in the previous year report.

Annualized Earnings per share (EPS) of GBBL now stands at Rs 13.18, net worth per share at 116.67, and the P/E ratio as of the end of Q1 at 13.66 times.

Currently, its paid up capital remains at Rs 2.78 arba with reserve of Rs 46.49 crore.

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