Garima Bikas integrated quarterly report after merger; an astounding 58.34% rise in Q4
Tue, Aug 11, 2015 12:00 AM on Others,
ShareSansar, August 11:
Pokhara based Garima Bikas Bank Limited (GBBL) has reported impressive rise of 58.34% net profit for the fourth quarter of the last fiscal year 2071/72.
Garima Bikas Bank and Beni based Nilgiri Bikas bank has undergone 1: 1 ratio merger process and commenced its joint operation as National level development bank from Ashad 29, 2072. The fourth quarter report is the first integrated quarterly report of the development bank.
According to unaudited financial statement published today, its net profit has increased to Rs 16.31 crore in fourth quarter, up from Rs 10.27 crore in the corresponding quarter of the previous fiscal year 2070/71.
Garima Bikas bank also amassed huge amount of deposits in the Q4 of the ongoing fiscal year. Deposits collection reached Rs 6.35 arba from Rs 4.01 arba in the corresponding period last year.
The bank extended loans and advances of Rs 5.50 arba in the Q4 whereas in the same period last year the figure stood at Rs 3.49 arba.
The net interest income of the development bank reached Rs 34.11 crore in Q4 of FY 2071/72 up from Rs 22.03 in the previous FY 2070/72. Garima has a paid up capital of Rs 70.95 crore.
Its non-performing loan (NPL) has risen to 0.24% in Q4 from 0.10% in the same quarter last year. The bank’s CD ratio stands at 75.08%.
The development bank EPS stands at Rs 23 and net worth per share at Rs 137.38.
The secondary transaction of the bank which is halt in the NEPSE due to merge process will soon resume for trading within two weeks of time period.
