Kamana Bikash Bank reports 27.8% net profit rise by the fourth quarter

ShareSansar, August 4:

Yet another development bank based in Pokhara has reported impressive profit at the end of the fourth quarter. Kamana Bikash Bank Limited has reported a rise in net profit of 27.85 percent in the last fiscal year 2070/71.

Publishing an unaudited financial report for the fourth quarter today, the development bank has stated that its net profit rose to Rs 6.38 crore from Rs 4.99 crore at the end of the previous fiscal year 2069/70.

Its strong crore business was largely responsible for the profit. The net interest income surged to Rs 12.99 crore up from Rs 10.57 crore.

Kamana mobilized Rs 2.66 arba in deposit and Rs 2.09 arba in loan by the fourth quarter as compared to Rs 2.09 arba in deposit and Rs 1.80 arba in loan at the end of the corresponding quarter.

Kamana has also provisioned Rs 34.77 lakh for possible loss.

Its non-performing loan has marginally dipped to 0.17 percent, up from 0.18 percent at the end of the previous fiscal year.

It may be noted that all the major development banks based in Pokhara have come up with impressive profit by the fourth quarter.