Kumari Bank reports 33% growth in net profit to Rs 27.93 crore; Kankrebihar’s rises by 149%.

Kumari Bank Limited (KBL) has registered a net profit growth of 32.9% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the commercial bank today, its net profit has increased to Rs. 27.93 crore in second quarter, up from Rs.21.01 crore in the corresponding quarter of the previous fiscal year. KBL’s net interest income has risen to Rs 55.50 crore in Q2 as compared to Rs. 46.47 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 2.69 arba with a reserve of Rs 1.64 arba. The bank also collected deposits of Rs 39.94 arba up from 34.53 arba in the corresponding quarter of previous year. Likewise, it has extended loans and advances of Rs 33.65 arba in Q2 whereas in the same period last year, the figure stood at Rs 27.50 arba. It has a CCD ratio of 77.37% KBL’s annualized Earnings per Share (EPS) has increased to Rs 27.95 per share. It has a Net worth of Rs 160.89 per share. The PE ratio is 19.93 times. Its NPL has also dropped from 2.55% to 1.14%. Its AGM had endorsed 21% stock dividend for the FY 2072/73 and a right share of 50%, which is in the SEBON pipeline. After the issuance of bonus and right shares, its paid up will reach Rs 4.60 arba. It is in process of acquiring Kasthamandap Development Bank, Kankrebihar Bikas Bank, Mahakali Bikas Bank and Paschimanchal Finance. Likewise, Kankrebihar Bikas Bank Limited (KKBL), which is being acquired by Kumari Bank has reported 149% surge in net profit. According to the unaudited financial report published by the development bank today, its net profit has increased to Rs 53.21 lakh in second quarter, up from Rs. 21.38 lakh in the corresponding quarter of the previous fiscal year. KKBL’s net interest income has risen to Rs 1.93 crore in Q2 as compared to Rs. 72.49 lakh in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 6.08 crore with a reserve of Rs 2.55 crore. The bank also collected deposits of Rs 82.86 crore up from 77.10 crore in the corresponding quarter of previous year. Likewise, it has extended loans and advances of Rs 57.05 crore in Q2 whereas in the same period last year, the figure stood at Rs 41.07 crore. It has a CCD ratio of 63.32%. Its NPL has increased slightly to 1.01%. KKBL’s annualized Earnings per Share (EPS) now stands at Rs 8.73, net worth at Rs 119.26 per share and P/E ratio at 48.68 times as of June 2, 2016.