Kanchan Dev Bank posts 195% profit growth, Professional Diyalo earns Rs 2.21 crore

ShareSansar, August 20:

Kanchan Development Bank Ltd has posted a massive profit growth of 195 percent in the fourth quarter of the last fiscal year.

Publishing the unaudited financial results today, the bank said that its net profit rose to Rs 3.16 crore in the last fiscal year 2070/71, up from Rs 1.07 crore in the corresponding period of the previous fiscal year 2069/70.

The rise in the profit is attributed to the growth in the overall business of the bank including the rise on deposit mobilization and loan expansion.

The bank earned Rs 6.08 crore in net interest income, up from Rs 5.42 crore in the previous year.

It mobilized Rs 1.14 arba in deposit and Rs 89.33 crore in loan last year against the comparison of Rs 8.95 deposit and Rs 68.74 crore loan mobilizations in the previous year. The bank’s EPS stands at Rs 28.71 and net worth per share Rs 140.79.

Similarly, Professional Diyalo Bikas Bank Ltd has earned the net profit of Rs 2.21 crore in the fourth quarter of the last fiscal year.

According to the unaudited financial results of the bank, it’s net profit inched up to Rs 2.21 crore in the last year from Rs 2.12 crore in the previous fiscal year 2069/70.

The bank provisioned Rs 28.12 lakh last year for the possible loss. Its non-performing loan also went up to 1.32 percent from 0.39 percent in the previous year.

Its EPS is Rs 11.03, P/E ratio 16.86 and net worth per share Rs 125.45.