Mega Bank makes Rs 31.02 crore in FY2070/71, NPL inches up to 1.18%

ShareSansar, August 15:

Mega Bank Nepal Ltd profit climbed 75 percent in the fourth quarter of the last fiscal year as the core business of the bank grew during the review period.

The bank achieved Rs 31.02 crore in the net profit in the last fiscal year 2070/71, a rise from Rs 17.74 crore of net profit in the corresponding period of the previous fiscal year 2069/70, according to the unaudited financial results of the bank published today.

Net interest income of the bank stood at Rs 82.12 crore, up from Rs 67.97 crore in the previous year.

It provisioned Rs 12.66 crore last year for the possible loss while it managed to write back Rs 40.64 lakh from the amount it had provisioned for the possible loss.
 
By the quarter end of the last fiscal year, the bank mobilize Rs 17.15 arba in deposit while it floated a total of Rs 14.5 arba in loan, up from Rs 12.53 arba of deposit and Rs 11.46 arba of loan in the previous quarter year.

Its non-performing loan inched up to 2.18 percent from 2.17 percent in the previous year.   

The EPS of the bank stands at Rs 13.31, P/E ratio 33.73 times and net worth per share is Rs 118.55.