Lumbini Bank reports nominal net profit rise of 1.2 % in Q1

ShareSansar, November 12:

Lumbini Bank Limited has reported a nominal rise in net profit of 1.2 percent in the first quarter of the current fiscal year 2070/71.

The unaudited report for the first quarter the commercial bank published today shows that it earned a net profit of Rs 2.48 crore in the first quarter, down from Rs 2.45 crore in the corresponding quarter of the last fiscal year.

Its operational profit has, however, slightly dipped from Rs 2.95 crore to Rs 2.43 crore.

Lumbini Bank, nonetheless, mobilized Rs 12.01 arba in deposit, and only Rs 10.39 arba in loan. It had mobilized Rs 8.59 arba in deposit and Rs 8.10 arba in loan in the corresponding quarter last year.

The bank has posted a net interest income of Rs 9.84 crore, up from Rs 9.66 crore in the corresponding quarter.

Its non performing loan has, however, marginally risen from 1.17 percent to 1.67 percent.

Lumbini’s net worth per share stands at Rs 137.85 and its EPS (annualized) at Rs 6.20.