Machhapuchchhre Bank reports 43% growth in net profit; CCD at 79.59%

Machhapuchchhre Bank Limited (MBL) has registered a net profit growth of 43.33% 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. 57.53 crore in second quarter, up from Rs.40.13 crore in the corresponding quarter of the previous fiscal year. MBL’s net interest income has risen to Rs 1.12 arba in Q2 as compared to Rs. 82.11 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 4.66 arba with a reserve of Rs 2.42 arba. The bank also collected deposits of Rs 58.24 arba up from Rs 44.54 arba in the corresponding quarter of previous year. Likewise, it has extended loans and advances of Rs 51.85 arba, whereas in the same period last year, the figure stood at Rs 37.38 arba. The CCD ratio has increased to 79.59%. MBL’s annualized Earnings per Share (EPS) has increased slightly to Rs 24.66 per share. It has a net worth of Rs 126.77 per share, down from Rs 143.62 in the corresponding quarter last year. The PE ratio is 16.30 times. Its NPL has dropped to 0.35%. Its 18^th AGM had endorsed 20.75% stock dividend and a right share of 12%. It had previously issued a right share of 50%. After the issuance of bonus and right, its paid-up capital will reach to 7.39 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to Rs 8 arba by the end of FY 2073/74, MBL will need to issue a further capital hike of 8.25% against an annualized EPS of 24.66% as of this quarter.