Kanchan Dev. Bank earns Rs 2.97 crore in Q2; NPL increases to 1.97%

Kanchan Development Bank Limited (KADBL) has registered a net profit increment of 35.67 percent for the second quarter of the fiscal year 2073/74. According to the unaudited financial report published by the development bank today, its net profit increased to Rs. 2.97 crore in the second quarter, up from Rs. 2.19 crore in the corresponding quarter of the previous fiscal year. Kanchan Development Bank’s net interest income inched up to Rs. 7.64 crore in the Q2 as compared to Rs. 4.41 crore in the corresponding quarter. Its paid up capital remains at Rs. 24.75 crore with a reserve of Rs 6.37 crore. The development bank has collected deposits of Rs 2.34 arba in Q2.The figure was Rs 1.63 arba in the previous fiscal year. It has disbursed loans and advances of Rs.2.07 arba in Q2 whereas in the same period last year, the figure stood at Rs.1.33 arba. Its non-performing loan increased to 1.97 percent from 1.11 percent in Q2. Kanchan Development Bank’s annualized Earning Per Share (EPS) stands at Rs.30.06, net worth per share at Rs 157.20 and P/E ratio is at 10.95 percent.