Nepal Bank Q2 earnings shoot through the roof; Profit surges by 170.52% to Rs. 1.04 arba
Wed, Feb 10, 2016 11:40 AM on Latest, Financial Analysis, Featured,
Nepal Bank Limited (NBL) has reported a huge profit rise of 170.52 % for the second quarter of the fiscal year 2072/73.
According to the unaudited quarterly report for the second quarter published today, the commercial bank has amassed a net profit of Rs 1.04 arba in the second quarter, a huge growth from Rs 38.74 crore reported in the corresponding quarter of the previous year 2071/72.
Foreign Exchange, profits from non banking operations and massive write back has propelled the net profit of NBL in Q2. The income from foreign exchanges and profits from non banking operations have doubled. The write back has almost tripled to Rs 46.19 crore as compared to the corresponding quarter of last fiscal year.
The bank has negative reserve of Rs 1.54arba as compared to negative reserve of Rs 2.73 arba in corresponding quarter of last fiscal year.
In the second quarter Nepal Bank’s net interest income has risen to Rs 1.81 arba, up from Rs 1.38 arba crore in the corresponding quarter. Its paid up capital remains at Rs 6.46 arba.
The bank has also collected Rs 80.22 arba in deposits and disbursed Rs 55.13 arba in loans as compared to Rs 69.27 arba in deposits and Rs 45 arba in loans in the corresponding quarter last year.
Nepal bank brought down its non-performing loans to 3.85% in Q2 from 4.62% in corresponding quarter of previous year.
Its earnings per share (EPS) stands at Rs 32.42 (annualized) and net worth per share is at Rs 76.12.
Foreign Exchange, profits from non banking operations and massive write back has propelled the net profit of NBL in Q2. The income from foreign exchanges and profits from non banking operations have doubled. The write back has almost tripled to Rs 46.19 crore as compared to the corresponding quarter of last fiscal year.
The bank has negative reserve of Rs 1.54arba as compared to negative reserve of Rs 2.73 arba in corresponding quarter of last fiscal year.
In the second quarter Nepal Bank’s net interest income has risen to Rs 1.81 arba, up from Rs 1.38 arba crore in the corresponding quarter. Its paid up capital remains at Rs 6.46 arba.
The bank has also collected Rs 80.22 arba in deposits and disbursed Rs 55.13 arba in loans as compared to Rs 69.27 arba in deposits and Rs 45 arba in loans in the corresponding quarter last year.
Nepal bank brought down its non-performing loans to 3.85% in Q2 from 4.62% in corresponding quarter of previous year.
Its earnings per share (EPS) stands at Rs 32.42 (annualized) and net worth per share is at Rs 76.12.
