Kanchan Development Bank reports 13.65% rise in net profit for Q2 of 076/77; Net worth per share at Rs 142

Kanchan Development Bank Limited ( KADBL) has published its Q2 report for the fiscal year 2076/77. The bank has reported a profit of Rs 4.10 crore in Q2 2076/77. The net profit of the company has increased by 13.65% compared to Rs 3.61 crore in the Q2 2075/76.

The development bank has collected deposits of Rs 6 arba and has floated loans of Rs 4.87 arba in the Q2 2076/77. Deposits and Loan & advances of the company have grown from Rs 5.53 arba and Rs 4.52 arba respectively, compared to the immediate previous ending (Q4 of FY 2075/76).

The net interest income of the company has increased from Rs 11.10 crore to Rs 12.88 crore in Q2 2076/77.

Similarly, the operating profit has increased to Rs 5.86 crore in Q2 2076/77.

The development bank's paid-up capital stands at Rs 53.13 crore with reserves of Rs 11.83 crore. The bank's NPL has increased from 0.83 percent to 0.93 percent in the review period.

The annualized EPS and net worth of share stand at Rs 15.45 and Rs 142 respectively. The company has reported a P/E ratio of 17.02 times. Recently, trading of Kanchan Development Bank halted in NEPSE after merger agreement with NMB Bank.

Second Quarter Report