Kalinchowk Development Bank posts 69.5 percent net profit rises in Q4

ShareSansar, Aug 3:

Kalinchowk Development Bank Limited has come up with profit growth of 69.52 percent by the end of the last fiscal year 2070/71

Publishing the unaudited financial report for the fourth quarter today, the development bank headquartered in Dolakha district has stated that its profit has climbed from Rs 14.01 lakh in the previous fiscal year 2069/70 to Rs 23.75 lakh by the end of the fourth quarter of the last fiscal year.

Its net interest income has risen to Rs 1.16 crore up from Rs 86.38 lakh.

Kalinchowk mobilized Rs 1.88 arba in deposit and Rs 1.46 arba in loan by the fourth quarter as compared to Rs 1.22 arba in deposit and Rs 83.60 crore in loan at the end of the corresponding quarter.

It has managed this profit despite provisioning Rs 41.43 lakh for possible loss at the end of the fourth quarter.

It also has reported no non-performing loan in the last fiscal year as in the previous one.