Kamana Dev. Bank & Kaski finance reports profit growth of Rs 6.58 crore & 5.11 crore respectively

Kamana Bikash Bank Limited (KMBL) has registered modest profit rise of 23.47 percent in the third quarter of the last fiscal year 2072/73. According to the unaudited financial report published by the bank today, its net profit has surged to Rs 6.58 crore in third quarter up from Rs. 5.33 crore in the corresponding quarter of the last fiscal year 2071/72. Kamana Bikash Bank’s net interest income has risen to Rs 12.52  crore in Q3 as compared to Rs 11.20 crore in the corresponding quarter. It’s paid up capital remains at Rs 34.11 crore. The development bank also amassed huge amount of deposits in the Q3 of the ongoing fiscal year. Deposits collection reached Rs 3.57 arba in Q3 from Rs 2.89 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 2.84 arba in Q3 whereas in the same period last year the figure stood at Rs 2.38 arba. its non-performing loan has decline to 0.42 percent in Q3 from 0.52  percent in the previous year report. Kaski Finance Linited (KAFIL) has registered profit rise of 31.66 percent in the third quarter of the current fiscal year 2072/73. Its net profit increased to Rs. 5.11 crore in Q3 up from Rs 3.88 crore in the corresponding quarter. Publishing the unaudited financial report for Q3 today, the finance company deposit collection reached Rs.3.24 arba in the current quarter from Rs.2.69  arba in Q3 last year. It floated loans of Rs.2.86 arba, rising from Rs.2.36 arba of the corresponding quarter of the previous fiscal year. The commercial bank’s net interest income reached to Rs.11.51 crore, increasing from Rs. 9.32 crore in Q3. Kaski Finance paid up capital remains at Rs 33.25 crore and with reserve of Rs.10.28 crore. Its NPL slightly inclined to 0.96 % from 0.92 % in the third quarter. KMBL and KAFIL have signed a Memorandum of Understanding (MOU) for the merger  on Shrawan 18, 2072 to form a National level development bank, which will be named Kamana Bikas Bank Limited with the logo of Kaski Finance Limited.