Meager profit growth of Jyoti Bikas Bank by 3.86% in Q1; Decline in profit of Shangri-La,NIDC & Lumbini Bikas Bank by 7.38%, 8.56% & 51.68% respectively

Jyoti Bikas Bank Limited (JBBL) has registered a net profit growth of 3.86% in the first quarter of the current fiscal year 2074/75. As per the unaudited quarterly report published today the development bank has earned net profit of Rs 4.52 crore in Q1 from Rs 4.35 crore in the corresponding quarter. The net interest income of the company reached to Rs 12.89 crore in the Q1 rising from Rs 8.84 crore in the previous fiscal year corresponding quarter. The paid up capital of the company remains at Rs 2.20 crore in the Q1 with Rs 51.14 crore in reserve. JBBL’s operating profit increased to Rs 7.11 crore in Q1 from Rs 3.98 crore in the corresponding quarter of the previous fiscal year. The bank has mobilized Rs 11.30 arba in deposits with Rs 9.98 arba loan flow in Q1. The development bank's NPL stands at 0.82% in Q1. Its EPS stands at Rs 8.21 and net worth per share stands at Rs 123.18. Recently, Jyoti Bikas Bank and Raptibheri Bikas Bank have started joint transaction on Kartik 8, 2074 after completion of acquisition by Jyoti Bikas Bank. Click here for announcement Meanwhile, Shangrila Development Bank Limited (SADBL) has posted 7.38 percent decline in net profit in the first quarter of the fiscal year 2074/75. The development bank stated that its net profit rose to Rs 4.10 crore in the Q1, down from Rs 4.43 crore in the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report today, Its net interest income has risen from Rs 14.12 crore in corresponding quarter to Rs 14.62 crore in the current quarter. The development bank has collected deposits of Rs 13.80 arba and has extended loans of  Rs 12.08 arba in Q1. Its non-performing loan (NPL) stands at 0.98 percent in Q1. Shangri-La Development Bank has paid up capital of Rs. 1.35 arba with reserve and surplus of  Rs. 61.76  crore in Q1. SADBL’s earning per share (EPS) stand at Rs 12.09, net worth per share at Rs. 145.49 and PE ratio at 32.01. Shangri-la Development bank is in the process of acquiring Cosmos Development Bank Limited. The bank will also be issuing 80% right shares and the bank is seeking approval from securities Board of Nepal (SEBON) for approval. Click Here For Announcement Similarly, NIDC Development Bank Limited (NIDC) has reported net profit declined by 8.56 percent in the first quarter of the ongoing fiscal year 2074/75. Publishing the unaudited quarterly report today, the development bank has reported net profit of Rs 1.92 crore in Q1 decreasing from 2.10 crore in the corresponding quarter of the previous fiscal year. The net interest income of the company has reached Rs 6.66 crore in the Q1 and it has extended Rs 2.93 arba in loan and advances. Likewise it has collected Rs 1.10 arba in deposits. The company’s paid up capital remains at Rs 41.58 crore with reserve Rs 3.26 arba in the first quarter. Recently, NIDC Development Bank has signed an agreement following the merger process with Rastriya Banijya Bank. Trading of NIDC Development Bank has been suspended from today in Nepal Stock Exchange Limited (NEPSE) for the merger process Its NPL has declined from 15.72% in corresponding quarter to 9.62 % in the Q1 of ongoing fiscal year 74/75. Its  earnings per share (EPS) is at Rs 18.48 and net worth per share stood at Rs 885.96. Click Here For Announcement Also, Lumbini Bikas Bank Limited (LBBL) has posted net profit of Rs 1.61 crore for the first quarter of fiscal year 2074/2075. The net profit of the development bank has decreased by 51.68% in Q1. As per the unaudited report for the Q1 published today, The bank has collected total deposits of Rs 18.45 arba whereas its loan and advances stood at Rs 15.90 arba. Its net interest income has declined to Rs 10.78 crore in this quarter from Rs 12.006 crore in the corresponding quarter. LBBL has paid up capital of Rs 200.08 crore and reserve & surplus stand at Rs 83.38 crore. The company’s non-performing loan (NPL) stood at 3.16% and CD ratio stands at 75.01%. Its earning per share (EPS) remains at Rs 3.22 and networth per share at Rs 141.51. Click Here For Announcement