Laxmi Bank’s net profit rises by 39%, net worth per share at Rs 219

Laxmi Bank Limited (LBL) has reported a 39% increase in its net profit in the second quarter of the ongoing fiscal year 2073/74. It has earned a net profit of Rs 45.31 crore in Q2, up from Rs 32.58 crore in the corresponding quarter previous year. As per the quarterly financial statement published today, it has mobilized deposits of Rs 55.61 arba and has floated loans worth Rs 47.47 arba till the end of Q2. Its net interest income has increased to Rs 90.59 crore, up from Rs 64.25 crore last year. Its non-performing loan stands at 1.31% and CD ratio at 77.69%. Laxmi Bank recently acquired Professional Diyalo Development Bank in a share swap ratio of 100:50. It has announced 100% right share after acquisition, and 38% stock dividend (calculated on paid up capital at the end of Asadh 2073) for the FY 2072/73. After the issuance of proposed right and bonus shares, its paid up capital will reach Rs 7.47 arba. As per NRB’s directive for all commercial banks to maintain their paid up capital at a minimum of Rs 8 arba by the end of FY 2073/74, LBL will need to issue a further 7.1% capital increase. LBL's EPS stands at Rs 26.74, net worth per share at Rs 219.33 and P/E ratio at 28.53 times.