Himalayan Bank's profit rises by 54.82%, NPL drops to 2.18%

ShareSansar, November 14:

Himayalan Bank Limited (HBL) reported 54.82 percent increase in its net profit for first quarter of the current fiscal year 2071/72.

Publishing the unaudited financial report for the first quarter today, the bank has stated that its net profit has increased to Rs 26.86 crore up from Rs 17.35 crore as compared to the corresponding quarter of the last fiscal year 2070/71.

The net profit was mainly accompanied by the core business of the bank as the net interest income rose to Rs 59.03 crore up from Rs 50.52 crore as compared to the corresponding quarter.

Moreover, the provision for possible loss has also declined to Rs 6.02 crore from Rs 17.73 crore during the given period.

The commercial bank has increased its deposits to Rs 68.91 arba as compared to the corresponding quarter which was Rs 59.36 arba likewise, the loan and advances reached to Rs 50.54 arba in the first quarter compared to Rs 41.72 arba in the corresponding quarter.

Its non performing loan has also reduced to 2.18 percent as compared to 2.65 percent in the corresponding quarter of last fiscal year.

Its annualized EPS stands at Rs 37.08, per share net worth at Rs 225.77 and the P/E ratio is 23.46 times.

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