Karnali Development Bank posts 48% net profit growth by Q4

ShareSansar, August 1:

Karnali Development Bank Limited has posted a modest profit growth of 48 percent in the last fiscal year 2070/71.

Publishing an unaudited financial report for the fourth quarter today, the development bank based in Nepalgunj has stated that it posted a net profit of Rs 18.47 lakh, up from Rs 12.50 lakh it posted in the previous fiscal year 2069/70.

The profit was fuelled by its core business as the net interest income surged to Rs 6.92 crore up from Rs 5.30 crore.

Karnali Development Bank has also provisioned Rs 34.84 lakh for possible loss at the end of the fourth quarter.

Its non-performing loan has also come down from 4.45 percent to 2.95 percent.

Karnali’s EPS now stands at 18.48, net worth per share 143.13 and P/R ratio stands at 10.45.