Mahakali Bikas Bank reports 77% rise in net profit; EPS at Rs 8.27

Mahakali Bikas Bank (MBBL) has registered a net profit growth of 77.27% in the second quarter of the current FY 2073/74. According to the unaudited financial report published by the development bank today, its net profit has increased to Rs 1.23 crore in second quarter, up from Rs. 69.46 lakh in the corresponding quarter of the previous fiscal year. MBBL’s net interest income has risen to Rs 3.01 crore in Q2 as compared to Rs. 1.94 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 14.88 crore with a reserve of Rs 4.73 crore. The bank also collected deposits of Rs. 1.27 arba till Q2, up from Rs 75.33 crore in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 98 crore in Q2 whereas in the same period last year, the figure stood at Rs. 58.17 crore. MBBL’s annualized Earnings per Share (EPS) has increased to Rs 8.27 per share. The trading of this development bank is currently in halt, as it is in a process of being acquired by Kumari Bank. The swap ratio for the acquisition has been fixed at 100:85.