Nabil’s net profit dips by 20% in first quarter

ShareSansar, November 11:

Nabil Bank Limited has reported a drop of 20.17 percent in its net profit in the first quarter of the current fiscal year 2070/71.

Publicizing an unaudited report for the first quarter today, the leading commercial bank of the country stated it earned a net profit of Rs 46.71 crore in the first quarter compared to the Rs 58.89 crore in the corresponding quarter of the last fiscal year.

Its operational profit has also slightly dipped from Rs 64.05 crore in the first quarter to Rs 58.52 crore.

Nabil Bank mobilized Rs 71.90 arba in deposit, but only Rs 48.82 arba in loan. It had mobilized 59.48 arba in deposit and Rs 42.41 arba in loan in the corresponding quarter last year.

However, it has posted a net interest income of Rs 86.44 crore compared to Rs 80.24 crore in the corresponding quarter.

Its non performing loan has also marginally increased from 2.99 to 3.31.
Nabil’s net worth per share stands at Rs 294 and its EPS (annualized) at Rs 74.26.