Modest profit growth of Agriculture Dev. Bank by 19.95% to Rs 1.21 arba in Q3; NPL stand at 4.89%

Agricultural Development Bank Limited (ADBL) has posted  modest net profit growth of 19.95 percent in third quarter (Q3) of the fiscal year 2072/73.The commercial bank has earned a net profit of Rs.1.21 arba in Q3 up from Rs 1.01 arba in the corresponding quarter of the previous fiscal year. As per the unaudited financial report for the third quarter today, the commercial bank has  net interest income of Rs 3.63 arba in Q3 increasing from Rs.3.52 arba in the corresponding quarter previous fiscal year. Agricultural Development Bank’s paid up capital remains at Rs.10.37 arba (public share of Rs.3.93 arba and irredeemable preference shares of Rs.6.43 arba) with reserve and surplus of Rs 7.06 arba in Q3. The commercial bank has amassed huge deposit collection of Rs. 83.51 arba in Q3 compared to Rs.68.80 arba in the corresponding quarter of the previous fiscal year. Likewise, It has disbursed loans of Rs 74.27arba. The figure stood at Rs 64.21 arba in the previous year corresponding quarter. The commercial bank’s NPL dropped to 4.89 % from 5.41% in Q3. ADBL’s annualized EPS stands at Rs. 31.27, net worth per share at Rs. 279.38, and P/E ratio at 22.61 times.