Mega Bank makes an astounding 394% growth in profit; Net profit for Q1 of 2075/76 reaches Rs 40.45 crore

Mega Bank, in a press release today, has published that it net profit has crossed Rs 40 crore. According to the financial highlights of the bank for the first quarter (Q1) of Fiscal Year 2075/76, the net profit stands at Rs 40 crore 45 lakh which was only Rs 8 crore 18 lakh in the corresponding quarter of previous year. This reports a staggering 394% growth in net profit. Similarly, the total deposits have grown by 66% to Rs 66 arba 11 crore and the total loans has increased by 74% to Rs 62 arba 25 crore.

Mega Bank had started its joint operation with Tourism development bank on Baisakh 30, 2074 and after the merger the deposits and lending had grown by Rs 12 arba 73 crore and Rs 12 arba 75 crore respectively.

The bank is currently serving its customers via a network of 102 branches, 18 extension counters, 111 branchless banking units and 79 ATM booths.