Massive profit growth of Nepal Bangladesh Bank by 80.17% to Rs 22.50 crore in Q1; EPS at Rs 22

Nepal Bangladesh Bank Limited (NBB) has posted net profit rise by 80.17 percent in the first quarter of the fiscal year 2073/74. According to the unaudited financial report published by the commercial bank today, its net profit has surged to Rs 22.50 crore in first quarter of the fiscal year 2073/74 up from Rs 12.48 crore in the corresponding quarter of the last fiscal year 2072/73. NBB’s net interest income has raised to Rs 32.94 crore in Q1 from Rs 19.64 crore in the corresponding quarter of the previous fiscal year. It has paid up capital of Rs 4.01 arba with reserve of Rs 2.25 arba in Q1. The bank’s deposits collection reached Rs 39.60 arba in Q1 from Rs 34.66 arba in the corresponding quarter of last fiscal year. Likewise, it has extended loans and advances of Rs 34.27 arba in Q1 whereas in the same period last year the figure stood at Rs 26.97 arba. NB Bank non-performing loan (NPL) has decline to 1.16 percent in Q1 from 1.26 percent in the previous year report. Its annualized earning per share (EPS) remains at Rs 22, net worth per share at 156 and the P/E ratio at 40 times. Recently, Nepal Bangladesh Bank 22^nd Annual General Meeting (AGM) had approved 32 percent bonus and 80 percent right share.