Mega Bank profit declines in Q2; provisioned Rs 8.10 crore

 ShareSansar, February 8:

Mega Bank Limited (MEGA) has posted a profit decline of 4.82 percent in the second quarter of the current fiscal year 2071/72.

 According to an unaudited financial statement published today, the bank disclosed that it achieved a net profit of Rs 15.83 crore in the second quarter of the current fiscal year compared to the net profit of Rs 16.63 crore in the corresponding period of last fiscal year 2070/71.

 The bank’s net interest income reached Rs 41.88 arba in the second quarter this year, which is a growth of 6.24 percent compared to the income of the same period last year.

 While the bank was required to provision Rs 8.10 crore in the second quarter this year for the possible losses, but it could not manage to write back any amount that it had provisioned in the previous years for possible losses.

Mega Bank observed a satisfactory growth in terms of deposit collection and loan supply during the review period. While the bank mobilized Rs 19.85 arba on deposit in the second quarter this year, it extended a total of Rs 17.54 arba on loans.

 It had mobilized a total of Rs 15.09 arba on deposit and Rs 13.72 arba on loans in the corresponding period of the last fiscal year 2070/71.

 The annualized earning per share (EPS) and the net worth per share of the bank stand at Rs 12.17 and Rs 111.03 respectively. Its NPA stands at 1.78 percent and P/E ratio is 30.08 times.