Metro, Paschimanchal Bikas Bank register impressive profit, Mission makes modest growth

ShareSansar, August 7:

Paschimanchal Bikas Bank Limited and Metro Development Bank Limited has reported impressive profit rise while Mission Development Bank Limited’s growth has been largely stagnant, according to the unaudited financial reports for the fourth quarter of the last fiscal year 2070/71 they published today.

The net profit of Paschimanchal rose to Rs 6.47 crore last year, up by Rs 3.81 crore in compared to the previous year quarter end.

The total deposit mobilization of the bank in last fiscal year stands at Rs 3.37 arab while it extended Rs 2.83 on loans and advances. It had mobilized Rs 2.79 arab in deposit and Rs 2.37 in loan in previous fiscal year. The bank has provisioned Rs 25.6 lakh for possible losses by the fourth quarter.

Its EPS (annualized) stands at Rs 19.21, P/E ratio 11.97 times and the net worth per share at Rs 145.96.

The net profit of the Pokhara-based Metro rose to Rs 3.46 crore by the fourth quarter, up from Rs 2.14 crore in the corresponding quarter of the previous fiscal year 2069/70.

Metro’s net interest income surged to Rs 6.98 crore by this quarter end, up from Rs 4.74 crore in corresponding previous fiscal year quarter.

It mobilized Rs 1.58 arba in deposit and Rs 1.31 arba in loan by the fourth quarter as compared to Rs 1.16 arba in deposit and Rs 99.19 crore in loan by the end of the corresponding quarter.

Metro’s profit is noteworthy in that it has also provisioned Rs 43.59 lakh for possible loss by the fourth quarter end.

It has, however, reported 0.16 percent non-performing loan while it had no NPL at the end of the previous fiscal year.

Its EPS (annualized) now stands at Rs 21.65, P/E ratio at 13.40 times and the net worth per share at Rs 127.60.

Meanwhile, Mission Development Bank has reported a very modest net profit growth by the fourth quarter as compared to the corresponding one. As per the report, its net profit inched up by Rs 5.06 lakh to Rs 1.2 crore in last fiscal year quarter ending.

Provisioning of Rs 28.15 lakh for possible loans in the fourth quarter has also squeezed the profit of the bank.   

The EPS (annualized) of the bank is Rs 11.98.