Modest profit growth of Miteri Dev. Bank by 35.13%; NPL decline to 0.40%

Miteri Development Bank Limited (MDB) has reported a profit rise of 35.13 % for the first quarter of the current fiscal year 2072/73. According to the unaudited quarterly report for the fourth quarter published today, the development bank has amassed a net profit of Rs 1.66 crore in the first quarter of fiscal year 2072/73, a growth from Rs 1.23 crore reported in the corresponding quarter of the previous year 2071/72. In the first quarter Miteri’s net interest income has risen to Rs 3.02 crore in Q1, up from Rs 2.11 crore in the corresponding quarter. It also mobilized Rs 1.74 arba in deposits and disbursed Rs 1.52 arba in loans as compared to Rs 1.41 arba in deposits and Rs 1.14 arba in loans in the corresponding quarter last year. The development bank CD ratio stands at 75.28% and non-performing loan (NPL) is at 0.40% in Q1. The bank’s paid up capital remains at Rs 16.25 crore. Its annualized EPS stands at Rs 41.08 and its net worth per share is at Rs 168.78.