Miteri Development Bank Posts Modest 4% Profit Growth, Despite Strong Income Surge in Q3
Thu, Apr 16, 2026 12:05 PM on Financial Analysis, Latest,
Miteri Development Bank Limited (MDB) has posted a net profit of Rs. 9.62 crore in the Third quarter of FY 2082/83, reporting a minimal rise by 4.07% rise compared to Rs. 9.24 crore in the same period last fiscal year. The sharp improvement in earnings was driven by strong growth in net interest income and reduced cost of funds.
The bank’s net interest income surged by 67.05% to Rs. 22.15 crore from Rs. 13.26 crore a year earlier. Deposits reached Rs. 8.58 arba, rising by 31.88%, while loans and advances climbed by 32.27% to Rs. 6.84 arba. Meanwhile, impairment charges for loans and advances increased to Rs. 2.25 crore.
Operating profit stood at Rs. 13.74 crore, jump from Rs. 13.20 crore in the corresponding period last year. Retained earnings decline to Rs. 10.07 crore, while total reserves reached Rs. 37.83 crore. The bank’s capital adequacy ratio stood at 24.71%, down from 34.19% last year. Non-performing loans (NPL) stood at 0.48%, and the cost of funds decreased to 4.52% from 5.61%.
Annualized earnings per share (EPS) surged to Rs. 10.54 from Rs. 10.13 last year, while net worth per share decreased by 1.43% to Rs.139.36. The bank’s quarter-end market price was Rs. 621.9, with a price-to-earnings (P/E) ratio of 59.00 times.
| Particulars (In Rs '000) | Miteri Development | ||
|---|---|---|---|
| Q3 2082/83 | Q3 2081/82 | Difference | |
| Paid Up Capital | 1,217,100.00 | 1,217,100.00* | 0.00% |
| Retained Earnings | 100,710.12 | 163,047.60* | -38.23% |
| Reserves | 378,356.31 | 340,547.62* | 11.10% |
| Deposit | 8,581,218.04 | 6,506,779.77* | 31.88% |
| Loans & Advances | 6,849,036.41 | 5,178,122.15* | 32.27% |
| Net Interest Income | 221,577.27 | 132,643.93 | 67.05% |
| Personnel Expenses | 69,699.291 | 62,010.863 | 12.40% |
| Impairment Charges | 22,518.54 | 2,148.49 | 948.11% |
| Operating Profit | 137,455.43 | 132,080.36 | 4.07% |
| Net Profit | 96,218.80 | 92,456.26 | 4.07% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 100,710.12 | 108,300.49 | -7.01% |
| Capital Adequacy (%) | 24.71 | 34.19 | -27.73% |
| NPL (%) | 0.48 | 0.78 | |
| Cost of Fund (%) | 4.52 | 5.61 | -19.43% |
| Annualized EPS (In Rs.) | 10.54 | 10.13 | 4.07% |
| Net Worth per Share (In Rs.) | 139.36 | 141.38 | -1.43% |
| Qtr end PE Ratio (times) | 59.00 | - | - |
| Qtr End Market Price | 621.9 | - | - |
