Muktinath & Miteri Dev. Bank Q2 earning upswings by 55.12% & 30.03% respectively

Muktinath Bikas Bank Limited (MNBBL) has registered massive profit rise of 55.12 percent in the second quarter of the current fiscal year 2072/73. According to the unaudited financial report published by the development bank today, its net profit has surged to Rs 15.90 crore in second quarter up from Rs 10.25 crore in the corresponding quarter of the fiscal year 2071/72. Muktinath Bikas Bank’s net interest income has risen to Rs 30.87 crore in Q2 as compared to Rs 21.80 crore in the corresponding quarter. It’s paid up capital remains at Rs 83.84 crore. The bank also amassed huge amount of deposits in the Q2 of the ongoing fiscal year. Deposits collection reached Rs9.23 arba in Q2 from Rs 5.85 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 7.86 arba in Q2 of FY 2072/73 whereas in the same period last year the figure stood at Rs 5.20 arba. Its non-performing loan has decline to 0.26 percent in Q2 from 0.48 percent in the previous year report. MNBBL annualized earning per share (EPS) stand at Rs 37.93, net worth per share at 134.42, and the P/E ratio at 19.14 times. Likewise, Miteri Development Bank Limited (MDB) has reported a profit rise by 30.03% for the second quarter of the current fiscal year 2072/73. According to the unaudited quarterly report for the second quarter published today, the development bank has amassed a net profit of Rs 3.97 crore in Q2 of fiscal year 2072/73, a growth from Rs 3.05 crore reported in the corresponding quarter of the previous year 2071/72. In the second quarter Miteri’s net interest income has increased to Rs 6.84 crore, up from Rs 4.74 crore in the corresponding quarter. It has collected Rs 1.90 arba in deposits and disbursed Rs 1.70 arba in loans compared to Rs 1.44 arba in deposits and Rs 1.23 arba in loans in the corresponding quarter of the previous fiscal year. The development bank CD ratio stands at 78.17% and non-performing loan (NPL) is at 0.24% in Q2. The bank’s paid up capital remains at Rs 21.12crore. Its annualized EPS stands at Rs 37.60 and its net worth per share is at Rs 139.08.