Nepal Bank Q1 earning surges by whopping 65.06% to Rs.44.43 crore

Nepal Bank Limited (NBL) has registered massive profit rise of 65.06 percent in the first quarter of the fiscal year 2072/73 According to the unaudited financial report published by the bank today, its net profit has surged to Rs.44.43 crore in first quarter up from Rs.26.92 crore in the corresponding quarter of the previous fiscal year. Nepal Bank’s net interest income has risen to Rs.69.91 crore in the first quarter as compared to Rs.59.64 crore in the corresponding quarter. It’s paid up capital remains at Rs.6.46 arba. The bank also amassed huge amount of deposits in the Q1 of the ongoing fiscal year. Deposits collection reached Rs.77.52 arba in Q1, up from Rs.70.82 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs.53.10 arba in Q1 whereas in the same period last year the figure stood at Rs.42.14 arba. Its non-performing loan has decline to 3.82 percent in Q1 from 4.78 percent in the previous year report. NBL’s annualized earning per share (EPS) stands at Rs.27.49, net worth per share at Rs.66.78, and P/E ratio at 9.67 times.