Nepal Bank Ltd earns Rs 1.23 arba profit, Reserve & surplus narrows down

ShareSansar, August 17:

Nepal Bank Ltd has registered a profit rise of 56 percent in the fourth quarter of the last fiscal year 2070/71.

According to the unaudited financial results of the bank published on Saturday, it earned the net profit of Rs 1.24 arba on last year, up from Rs 79.15 crore in the corresponding period of the previous fiscal year 2069/70.
 
The net interest income of the bank increased to Rs 2.82 arba last year from Rs 2.52 arba in the previous year.

Deposit mobilization of the bank rose to Rs 69.34 arba from Rs 62.99 arba in the previous year while the total loan extension of the bank increased by Rs 3.34 arba to Rs 41.2 arba in the last year.

Operating profit of the bank has increased by more than two times. The operating profit of the bank reached Rs 70.03 crore from Rs 36.1 crore in the previous year. The bank spent Rs 2.08 arba on the staff expenses last year.

While it provisioned Rs 20.06 crore last year for the possible loss, it managed to write back Rs 43.43 crore from the amount it provisioned earlier for the possible loss.

Non-performing loan of the bank increased to 4.74 percent from 4.53 percent. The negative Reserve and surplus of the bank which was Rs 3.89 arba last year came down to Rs 2.6 arba last year.

Its EPS stands at Rs 31.17, P/E ratio 14.73 times and net worth per share is Rs 34.46.