Hamro Bikas Bank’s net profit doubles by the fourth quarter end

ShareSansar, July 27:

Hamro Bikas Bank Limited has come up with twofold rise in net profit by the end of the last fiscal year 2070/71.

Publishing the unaudited financial report for the fourth quarter of the last fiscal year, the development bank based in Nuwakot has stated that its net profit has risen to Rs 1.46 crore, up from Rs 73.29 lakh in the previous fiscal year 2069/70.

The profit is attributable to its core business as the net interest income has risen to Rs 5.30 crore by the end of the fourth quarter as compared to Rs 4.41 crore at the end of the corresponding quarter.

It mobilized Rs 54.74 crore in deposit and Rs 42.60 crore in loan up from Rs 40.48 crore in deposit and Rs 31.42 crore in loan over the year.

Hamro Bikas Bank has pulled off such a sound growth despite provisioning Rs 25.58 lakh for the possible losses.

However, its non-performing loan now stands at 0.69 percent while it had no NPL at the end of the previous fiscal year.

By the end of the fourth quarter, its EPS has been priced at Rs 24.38 (annualized), P/E ratio at 10.91 and net worth per share at Rs 142.88.