Kamana & Sewa Bikas Bank post astounding profit by 130.39% & 89.18% in Q2

Kamana Bikas Bank Limited (KBBL) has posted a net profit surge by 130.39 percent in the second quarter of the fiscal year 2073/74. As per the unaudited financial report for the second quarter published today, the development bank has stated that it has earned net profit of Rs 10.05 crore in the Q2 up from Rs 4.36 crore in the corresponding period of previous fiscal year report. Its net interest income increased to Rs 20.76 crore in Q2 from Rs 8.31 crore in the corresponding quarter previous year. The bank has collected deposits of Rs 6.89 arba while it has mobilized loans and advances of Rs 6.18 arba in Q2. The deposit and loan amount stood at Rs 3.40 arba and Rs 2.74 arba respectively in the previous year corresponding quarter. Kamana Bikas Bank has a paid up capital of Rs 66.16 crore and reserve of Rs 38.45 crore. The development bank’s NPL has increased to 1.48% from 0.42% in Q2. Its Earnings per Share (annualized) remains at Rs 30.40 and net worth per share stands at Rs 158.13. Its PE ratio remains at 23.36 times. Likewise, Sewa Bikas Bank Limited (SEWA) has posted a net profit increment by 89.18 percent in the second quarter of the fiscal year 2073/74. As per the unaudited financial report for the Q2 published today, the development bank has stated that it has earned net profit of Rs 7.72 crore in the second quarter up from Rs 4.08 crore in the corresponding period of previous fiscal year report. Its net interest income surged to Rs 15.57 crore in Q2 from Rs 8.96 crore in the corresponding quarter previous year. The bank has collected deposits of Rs 5.41 arba and has disbursed loan of Rs 4.65 arba in Q2. In the previous year corresponding quarter, the deposit and loan amount remained at Rs 4.36 arba and Rs 3.62 arba respectively. Sewa Bikas Bank’s paid up capital remains at Rs 50.64 crore and reserve of Rs 18.54 crore. The development bank’s NPL increased 0.96 % to from 0.14% in Q2. Its annualized Earnings per Share remains at Rs 30.52 and net worth per share stands at Rs 136.61. Its PE ratio is at 12.42 times. Kamana and Sewa Bikas Bank Limited had signed Memorandum of Understanding (MOU) for merger process on Mangsir 10, 2073. After merger, the merged entity will be named as Kamana Sewa Bikas Bank Limited.