Gauri Shankar reports 24% operational profit by Q4, City posts 40%

ShareSansar, July 21:

Gauri Shankar Development Bank has reported an operational profit of Rs 7.14 crore by the fourth quarter of the last fiscal year 2070/71 -- a 24 percent percent growth compared to the previous fiscal year 2069/70.

Another encouraging think about one of the most sought-after development banks is that its non-performing loan has gone down from 1.73 percent in the previous fiscal year to 0.8 percent by the end of the fourth quarter.

Meanwhile, Gauri Shankar management has informed that it has reached the final level of the merger with Kist, Zenith and Prabhu Bikas Bank to form a merged entity called Prabhu Bank.

Another development bank based in Pokhara, City Development Bank has also reported an operational profit of Rs 14.70 crore in the last fiscal year. This is nearby 40 percent growth as compared to the previous fiscal year.

Its deposit mobilization has also increased by 37 percent and the loan mobilization by an impressive 40 percent by the end of the fourth quarter, according to its press release.

Its NPL has also come down to 0.34 percent.

Over the past couple of days some BFIs based in Pokhara such as Garima andShangri-La have reported good profit by the end of the fourth quarter.

Shangri-La Development Bank, another development bank based in Pokhara, has also posted an impressive operation profit of Rs 24.67 crore in the just concluded fiscal

Kaski, Fewa finances, too, report robust growth

Similarly, a number of finance companies based in Pokhara have also reported good operational profit by the end of the fourth quarter.

Kaski Finance Limited has reported an operational profit of Rs 8.48 crore by the fourth quarter of the last fiscal year, which is a 37 percent growth in comparison with the previous fiscal year.

The finance company has also posted 40 percent growth in deposit mobilization and 36 percent in loan mobilization, according to its press release.

Another finance company based in Pokhara, Fewa Finance Company Limited has posted an operational profit of Rs 14.65 crore, up from Rs 13.04 crore in the previous fiscal year.

It mobilized Rs 3.97 arba in deposit, Rs 3.34 arba in loan while its NPL has also reduced to negligible level, according to the finance company.