Lumbini Bank profit surges by 225%, earns Rs.80.6 million in Q1

ShareSansar, November 12:

Publishing the unaudited financial quarterly report today, Lumbini Bank Limited (LUBL)stated that it’s earned Rs 8.03 crore, up from Rs 2.48 crore in the corresponding period of the previous fiscal year 2070/71, which is astounding growth of 225 percent.

Net interest income of the bank increased to Rs 15.09 crore, up from Rs 9.84 crore in the previous year; which shows that bank had been able to increase its business this quarter.  

The bank has been able to collect Rs 17.05 arba in deposits and extended a total loans and advances of Rs 14.78 arba in this fiscal year compared to Rs 12.01 arba deposits and Rs 10.39 arba loans in the previous fiscal year.

The bank managed to write back Rs 3.07 crore from the amount earlier provisioned for the possible losses. At the same time LUBL also provisioned Rs 6 crore for the possible losses in the given period.

There is a decrease in the Non-performing loan (NPL) of the bank. It comes down to 1.04 percent from 1.67 percent in the previous fiscal year.  

Lumbini Bank’s annualized EPS is at Rs 16.12, while its P/E ratio stands at 20.91 times and its net worth per share at Rs 131.35.

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