Mission & Western Dev. Bank earns Rs 3.22 crore & 2.13 crore respectively in Q3

Mission Development Bank Limited (MIDBL) has reported impressive profit rise of 194.12% for the third quarter of the current fiscal year 2072/73. According to the unaudited quarterly report for the third quarter published yesterday, the development bank has amassed a net profit of Rs 3.22 crore in the third quarter of fiscal year 2072/73, a growth from Rs 1.09 crore reported in the corresponding quarter of the previous year 2071/72. In the third quarter Mission’s net interest income has risen to Rs 7.63 crore up from Rs 3.12 crore in the corresponding quarter. The bank’s net interest income increased by 144.39 percent. MIDBL has also collected Rs 1.77 arba in deposits and disbursed Rs 1.54 arba in loans as compared to Rs 1.21 arba  in deposits and Rs 89.16 crore in loans in the corresponding quarter last year. The development bank CD ratio stands at 76.75% and non-performing loan (NPL) is at 0.10% in Q3. The bank’s paid up capital remains at Rs 19.49 crore. It’s Earning per Share (EPS) stands at Rs 16.56 and liquidity ratio is at 30.54 percent. Meanwhile, Western Development Bank Limited (WDBL) has posted net profit decreased by 10.75% in the third quarter of the current fiscal year 2072/73. As per the unaudited third quarterly report published yesterday, the development bank has a net profit of Rs 2.13 crore declines from Rs 2.39 crore in the corresponding period of the previous fiscal year. In the third quarter, the development bank’s net interest income rose to Rs 3.71 crore from 3.56 crore of the corresponding period. The bank has collected Rs.2.04 arba in deposits in Q3 opposing to Rs 1.41 arba  in the corresponding period of the previous fiscal year. Likewise the development bank has collected Rs 1.30 arba  in loan and advances as compared to 1.03 arba. The paid up capital and reserve of the development bank in the current quarter stand Rs 15.69 crore and Rs 2.44 crore respectively. The bank’s non-performing loan dropped to 0.56% in the last Q3 from 1.57 % in the corresponding period of the previous fiscal year. It’s earning per share (EPS) stands at Rs 13.61, net worth per share is at Rs 115.57 and P/E ratio at 28.58 .The CD ratio stands at 58.52%.