Jyoti Bikas Bank reports 67% rise in net profit; EPS at Rs 24.58

Jyoti Bikas Bank (JBBL) has registered a net profit growth of 67.87% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the development bank yesterday, its net profit has increased to Rs. 13.54 crore in second quarter, up from Rs. 8.06 crore in the corresponding quarter of the previous fiscal year. JBBL’s net interest income has risen to Rs 22.95 crore in Q2 as compared to Rs. 15.80 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 1.10 arba  with a reserve of Rs 28.28 crore. The bank also collected deposits of Rs 9.12 arba in Q2, up from Rs 7.22 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 8.01 arba in Q2 whereas in the same period last year, the figure stood at Rs. 5.48 arba. JBBL’s annualized Earnings per Share (EPS) has increased by 40.68% to Rs 24.58 per share. It’s 9^th AGM had distributed 11.70% stock dividend for the fiscal year 2072/73 and endorsed a right share of 100%. After the issuance of 100% right, its paid up capital will reach Rs 2.20 arba. Based on NRB's requirement for all national level development banks to hike their paid up capital to Rs 2.50 arba, JBBL will need to further increase its capital by 13.7%.