International Dev Bank earns Rs 6.5 crore profit, NPL down by 3%

ShareSansar, August 19:

International Development Bank Ltd has reported a profit rise by Rs 6.5 crore in the fourth quarter of the last fiscal year 2070/71.

According to the quarterly financial statement of the bank published today, it’s profit reached Rs 6.6 crore last year, up from Rs 12.41 lakh in the corresponding period of the previous fiscal year.

Battered by the heavy provisioning of Rs 8.6 crore for the possible loss in the previous year 2069/70, it had not able to make profit up to the mark.

The bank earned Rs 20.64 crore profit in the last fiscal year, up from Rs 18.51 crore in the previous year.

It also managed to write back Rs 1.63 crore from the amount that the bank had earlier provisioned for the possible loss.
 
Another good part of the report is that the bank was able to decrease its non-performing loan (NPL) significantly. Its NPL went down to 3.56 percent from 6.56 percent in the previous year.

Its EPS is Rs 10.32, P/E ratio 14.44 times and net worth per share stands at Rs 123.98.