Global IME Bank reports a massive profit rise of 117.5 % in Q2

ShareSansar, January 23:

Global IME Bank Limited has reported a huge rise in profit in the second quarter of the current fiscal year 2070/71.

Publishing the unaudited quarterly report for the second quarter today, the commercial bank, which has entered into the merger process with Commerz and Trust Bank Nepal Limited, has stated that it has posted a profit rise of 117.5 percent in the second quarter as its net profit rose to Rs 53.28 crore, up from Rs 24.49 crore in the corresponding quarter last fiscal year.

Global IME’s profit was largely propelled by its core business.

Its net interest income has surged to Rs 78.97 crore up from Rs 63.13 crore in the second quarter last fiscal year. Similarly, the bank also succeeded in mobilizing Rs 36.97 arba in deposit and Rs 30.11 arba in loan as compared to Rs 29.36 arba in deposit and Rs 23.91 arba in the corresponding quarter last year.

The bank’s non-performing loan has, however, slightly gone up from 2.10  percent in the second quarter of the last fiscal year to 3.22 as of now.

It’s EPS stands at Rs 38.28 and its net worth per share stands at 135.34.