Muktinath Bikas Bank to provide 32% stock dividend; Net profit of Rs 6.85 crore in the first quarter of ongoing fiscal year.

The 146th BoD meeting of Muktinath Bikas Bank has decided to provide 33.68 % (32% bonus share and 1.68% cash dividend for the tax purpose) to its shareholders from the net profit earned in the last fiscal year. The bank also amassed huge amount of deposits in the Q1 of the ongoing fiscal year. Deposits collection reached Rs 8.30 arba in Q1 and it has extended loans and advances of Rs7.29 arba in the same period. The bank had an operating profit of Rs 10.78 crore and a net profit of Rs 6.85 crore in first quarter of fiscal year 2072/73. The bank’s earning per share (EPS) stands at Rs 42.86. In comparison to last fiscal year, the development bank’s deposit collection increased by 48.57%, loan extension by 49.58%, operating profit and net profit by 57.78%. As a National Level Development Bank, the bank has opened a branch office at Narayangopal Chowk, Maharajgunj, Kathmandu and has started its operation from Kartik 13, 2072.