Mission & Western Development Bank Q1 EPS stands at Rs 13.04 & Rs 8.20 respectively

Mission Development Bank Limited (MIDBL) posted a net profit decrease of 18.77 percent in first quarter of the fiscal year 2074/75. According to the published unaudited report today, the net profit has gone down from Rs 1.73 crore to Rs 1.41 crore. With Rs 2.90 arba in deposits and Rs 2.64 arba in floated loans till first quarter this year, its net interest income has increased to Rs 3.78 crore. The development bank has paid up capital of Rs 43.27 crore. To meet the capital requirement of Rs 50 crore, it had announced 20% bonus shares from the net profit of FY 2073/74. After which, paid up capital will reach to Rs 51.92 crore. The development bank has significantly increased its reserve with the growth of 70.58 percent to Rs 14.67 crore from Rs 8.60 crore in Q1 of FY 2074/75.. The annualized earning per share (EPS) of the development bank is Rs 13.04 while its net worth per share is Rs 133.91. Its P/E ratio is at 92.03 times. Click here to see announcement: Likewise, Western Development Bank Limited (WDBL) has made a remarkable progress in the first quarter of the ongoing fiscal year 2073/74. As per its first quarter financial statement published today, its net profit has reached Rs 88.06 lakh—up by 197.67% from Rs 2.58 lakh in the same period last year. Its operating profit has also increased to Rs 5.05 crore. With Rs 2.80 arba in deposits and Rs 2.30 arba in floated loans till first quarter this year, its net interest income has increased to Rs 3.53 crore. As of the end of Q1 this year, its paid up capital stands at Rs 42.93 crore (after merger with Namaste Bittiya Sanstha Limited) with reserve of almost Rs 6.50 crore. As per NRB’s directive for all regional level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, the development bank will need to issue a further capital hike of around Rs 7 crore (around 16%). Its annualized EPS stands at Rs 8.20 and net worth per share at Rs 115.15. Click here to see announcement: