Metro Development Bank profit rises by 29.81%

Metro Development Bank Limited (METRO)’s net profit has increased by 29.81% in Q2.The development bank posted net profit of Rs 2.63 crore for the second quarter of the fiscal year 2072/73 up from  Rs 2.03 crore in the corresponding quarter of the previous fiscal year 2071/72. According to an unaudited financial report published today, the development bank has collected deposits of Rs 2.17 arba in the second quarter compared to Rs 1.81arba in the corresponding quarter last year. Likewise, it extended loans of Rs 1.83 arba, up from Rs 1.51 arba of corresponding quarter last year. Its net interest income increased from Rs 4.46 crore to Rs 5.32 crore in Q2. The bank has paid up capital of Rs 25.10 crore. The development bank’s Non-Performing Loan (NPL) sttod at 0.09% in Q2 from 0.08% in the corresponding quarter. Its CD ratio stands at 74.13% . Its EPS (annualized) stands at Rs 21.01, net worth per share at Rs121.47 and P/E ratio is at 15.28 times.