Kankai Bikas Bank reports net profit of Rs 5.8 crore and EPS of Rs 11.42 for Q4 of 2075/76; Interest rate spread has shrunk from 7.51% to 6.80%

Kankai Bikas Bank Limited (KNBL) has reported increment of almost 30.75% in its net profit in the fourth quarter of the FY 2075/76.

As per the unaudited financial report published today, its net profit has increased by 30.75% as compared to corresponding period in the last year’s report. Its net profit now stands at Rs.5.83 Crore. Its operating profit has also significantly increased to Rs. 6.86 Crore from Rs 5.58 crore.

As of Q4, Kankai Bank’s deposit base increased to Rs. 2.12 Arba. Out of this, it has floated loans of Rs. 1.89 Arba. With increase in floated loans, it has been able to increase its net interest income to Rs.15.41 Crore.

Its paid up capital now stands at Rs.51.50 Crore with a reserve of Rs.10.05 Crore.

Its annualized EPS has now reached Rs.11.42, net worth per share at Rs.120.15 with P/E ratio of 17.16 times. The company is in acquisition process by Prime Commercial Bank Limited.

Q4 report