Nepal Credit & Commerce Bank net profit inflates by 224.54%; EPS rises to Rs 15.48

Nepal Credit & Commerce Bank Limited (NCCB) has posted an impressive net profit rise of 224.54% in the third quarter of the ongoing fiscal year 2074/75.

As per the unaudited quarterly report published by the commercial bank, its net profit has increased to Rs 54.31 crore till the end of third quarter this year, up from Rs 16.73 crore posted in the corresponding quarter last year.

NCCB has been able to earn Rs 1.01 arba in net interest income up to this quarter, down from Rs 1.54 arba last year. Its deposit base has increased to Rs 59.01 arba, up from Rs 55.26 arba in the third quarter last year. However, its loans have increased by 7.03% in comparison third quarter last year to Rs 52.12 arba.

The operating profit of the bank has soared up by 299.74% to Rs 34.63 crore and its provision for possible losses has declined by 76.81% to Rs 23.34 crore. It has been able to reduce its non-performing loans (NPL) to 3.97% from 4.68% posted in the same period last year

As of the end of Q3 this year, its paid up capital stands at Rs 4.67 arba with a reserve of Rs 3.12 arba. Its EPS is at Rs 15.48 with net worth per share of Rs 166.85 and PE ratio stands at 21.06 times.

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