Mission Development Bank (MIDBL) has registered a net profit growth of 106.09% in the second quarter of the current FY 2073/74.
According to the
unaudited financial report published by the development bank yesterday, its net profit has increased to Rs 3.66 crore in second quarter, up from Rs 1.77 crore in the corresponding quarter of the previous fiscal year.
MIDBL’s net interest income has risen to Rs 7.64 crore in Q2 as compared to Rs 4.71 crore in the corresponding quarter of the last fiscal year.
As of Q2, it has a paid up capital of Rs 19.49 crore with a reserve of Rs 10.40 crore.
The bank also collected deposits of Rs. 2.62 arba in Q2, up from Rs 1.59 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 2.25 arba in Q2 whereas in the same period last year, the figure stood at Rs. 1.36 arba.
MIDBL’s annualized Earnings per Share (EPS) has increased by 82.38% to Rs 37.62. It has proposed 100% right share. After the issuance of right shares, its paid up capital will reach Rs.38.98 crore. As per NRB’s directive for all 1-3 district level development banks to hike their paid up capital to Rs 50 crore, it needs to increase its capital by a further 28.2%.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q2 |
FY 2072/73 Q2 |
Difference (%) |
| Paid Up Capital |
194,925.00 |
172,500.00 |
13.00% |
| Reserve and Surplus |
104,036.99 |
57,452.38 |
81.08% |
| Deposits |
2,626,325.41 |
1,599,720.60 |
64.17% |
| Loans and Advances |
2,257,052.00 |
1,365,082.48 |
65.34% |
| Net Interest Income |
76,426.81 |
47,190.29 |
61.95% |
| Provision |
6,927.42 |
3,804.74 |
82.07% |
| Operating Profit |
57,611.55 |
27,968.01 |
105.99% |
| Net Profit |
36,661.90 |
17,789.00 |
106.09% |
| Capital Adequacy Ratio |
12.27% |
14.90% |
- |
| NPL |
0.37% |
0.32% |
15.63% |
| Cost of Fund |
6.47% |
5.57% |
|
| CD Ratio (as per NRB) |
77.16% |
74.61% |
- |
| EPS (Annualized) |
37.62 |
20.62 |
82.38% |
| Networth Per Share |
153.37 |
133.31 |
|
