Massive profit growth of Fewa Bikas Bank by 98.22% in Q2; NPL rises to 1.59% from 0.12%

Fewa Bikas Bank Limited (FBBL) has reported 98.22 percent rise in profit for the second quarter of the fiscal year 2072/73. As per the unaudited report for the second quarter published today, the bank’s net profit rose to Rs 11.02 crore in the first quarter of fiscal year 2072/73, up from Rs 5.56 crore reported in the same quarter of the fiscal year 2071/72. The bank has posted an operating profit of Rs 17.35crore. Fewa Bikas Bank has mobilized Rs 10.53 arba in deposit in the Q2 and extended a total of Rs 8.83 arba in loans and advances. In the previous quarter of fiscal year 2071/72, the bank deposits stood at Rs 4.17 arba and loan and advances at 3.69 arba. Its net interest income surged to Rs 25.11 crore in Q2 up from Rs 10.57 crore in the corresponding quarter. FBBL non-performing loans (NPL) stood at 1.59 percent up from 0.12% in the previous quarter, its paid up capital remains at Rs 81.62 crore in Q2.The bank reported a CD ratio of 74.72percent. While its annualized earning Per Share (EPS) stands at Rs  27.02, net worth per share is valued at Rs 158.60 and P/E ratio at  12.58 times. Fewa Finance and Bishwa Bikas Bank have completed merger process on Ashad 17, 2072 and became Fewa Bikas Bank.