Kalinchowk Dev. Bank net profit sky rockets by 266.67 % in Q1 due to doubling of net interest income

Dolakha based Kalinchowk Development Bank (KCDBL) net profit has surged by 266.67% in Q1.The development bank has net profit of Rs 31.58 lakh for the first quarter of the fiscal year 2072/73 up from Rs 8.61 lakh in the corresponding period of previous year 2071/72. As per the unaudited financial report published today, the development bank’s net interest income has reached to Rs 60.10 lakh in Q1 doubled as compared to the corresponding quarter of the previous fiscal year. It has an operating profit of Rs40.84 lakh in Q1.The bank had posted an operating profit of Rs 13.53 lakh in the corresponding quarter of the previous fiscal year. Kalinchowk Dev Bank has a paid up capital of Rs 10 crore in Q1 with reserve and surplus of Rs 1.62 crore. Its NPL increased to 1.00 % from 0.24 % in Q1.The bank’s CD ratio stood at 55.28 % down from 60.10 % as compared to the corresponding quarter of the last fiscal year. It’s EPS (annualized) and Net worth remains at Rs 3.16 and Rs 113.73 respectively.