NB Bank posts impressive profit growth of 131 % in first quarter

ShareSansar, November 12:

NB Bank Limited’s net profit has risen by 131.34 percent in the first quarter of the current fiscal year 2070/71, largely due to its core business.

Publishing an unaudited report for the first quarter, the commercial bank today stated that it earned a net profit of Rs 14.16 crore in the first quarter, up from Rs 6.12 crore in the corresponding quarter of the last fiscal year.

NB Bank, which is waiting for the second installment of sold shares from ICFC Bank of Bangladesh, nonetheless, mobilized Rs 20.86 arba in deposit, and Rs 13.60 arba in loan.

The bank has posted an impressive net interest income of Rs 19.45 crore, down from just Rs 9.04 crore in the corresponding quarter.

It has mobilized Rs 20.86 arba in deposit and Rs 13.60 arba in loan in the first quarter, up from Rs 15.76 arba in deposit and Rs 11.50 percent in loan in the corresponding quarter last year.

Its non performing loan has also significantly decreased from 3.95 percent to just 1.40 percent.

NB Bank’s net worth per share stands at Rs 168 and its EPS (annualized) at Rs 26.