Mero Microfinance projects profit growth of 92 % in the current fiscal year

Mero Microfinace Bittiya Sanstha Limited is promoted by 8 commercial bank and 2 development bank. There are no individual promoters. The promoters comprise of Global IME Bank (7%), Citizen Bank (6.9%), Janata Bank (7%), NMB Bank (7%), NIC Asia Bank (7%), Prime Bank Limited (7%), Grand Bank (7%), Siddhartha Bank (7%), H&B Development Bank (7%) and NDEP (6.5%). Mero Microfinance authorize and issued capital stands at Rs 40 crore and Rs 20 crore respectively. The paid up capital will be Rs 20 crore after the issuance of IPO worth Rs 6.12 crore.

Ram Hari Dahal, CEO of Mero Microfinance, in a meeting with staff.

As per the Ram Hari Dahal, CEO of Mero Microfinance, “The projected net income of Mero Microfinance for this fiscal year is Rs 8 crore. In the last fiscal year it made net profit of Rs 4.16 crore.” This staggering projected profit growth of 92.3 % shows the strong fundamentals of the Microfinance. This kind of growth makes the upcoming Initial Public offering from the Mero Microfinance lucrative to the investors. Mero Microfiance is serving 36000 families through its 30 branches in 21 districts of Nepal. It plans to add 13 more branches in 13 districts in the current fiscal year to serve 60,000 families. In 3 years from now, Mero microfinance plans to serve more than 125,000 families through 96 branches in 55 districts. Ram Hari Dahal, CEO of Mero Microfinance: IPO within third week of Mangsir