Janata Bank earns Rs 16.13 crore in Q2; CCD ratio at 80.46%

Janata Bank Nepal Limited (JBNL) has posted a net profit rise of 16.9% in the second quarter of the ongoing fiscal year 2073/74. As per the unaudited quarterly statement published by the commercial bank today, its net profit at the end of second quarter has increased to Rs 16.13 crore, up from Rs 13.80 crore in the corresponding quarter last year. In the same period, its deposit has increased to Rs 25.56 arba and it has disbursed Rs 22.97 arba in loans. Its net interest income has increased to Rs 40.77 crore from Rs 34.82 crore in Q2. Its CCD ratio now stands at 80.46%, which is higher than NRB’s maximum cap of 80%. Its non-performing loan has increased to 2.57% from 1.38% in this period. JBNL has distributed 12% bonus share to its shareholders for the FY 2072/73. After the capitalization of bonus, its paid up capital stands at Rs 2.30 arba. It had also issued 50% right share, after the capitalization of which its paid up capital will reach Rs 3.33 arba. It is undergoing merger with Triveni Bikas Bank Limited with a share swap of 1:1. After the merger, the capital of the merged entity will reach Rs 4.72 arba, and will issue a further 60% right. As per NRB’s requirement for all commercial banks to maintain a minimum paid up capital of Rs 8 arba by the end of FY 2073/74, JBNL aims to hike the paid up target by issuing bonus shares.