Janata Bank profit surges by 11.16% to Rs 6.39 crore in Q1; NPL increased to 1.18%

Janata Bank Nepal Limited (JBNL) has posted modest profit growth of 11.16 percent in the first quarter of the current fiscal year 2073/74. According to the unaudited financial report published by the commercial bank today, its net profit has surged to Rs 6.39 crore in first quarter up from Rs. 5.75 crore in the corresponding quarter of the last fiscal year 2072/73. Janata Bank’s net interest income has risen to Rs 18.72 crore in the first quarter as compared to Rs 16.78 crore in the corresponding quarter. It’s paid up capital remains at Rs 2.06 arba with reserve of Rs 68.26 crore. Deposits collection of the bank reached to Rs 25.25 arba in Q1 from Rs 22.56 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 21.80 arba in Q1 whereas in the same period last year the figure stood at Rs 19.63 arba. Meanwhile its non-performing loan (NPL) has also risen to 1.18 percent up from 0.98 percent in Q1. Its annualized Earning per Share (EPS) stands at Rs 12.42, net worth per share at 133.14, and the P/E ratio at 43 times.