Nepal Grameen Bikas Bank profit surges by 156.54% to Rs 1.09 crore in Q1

Nepal Grameen Bikas Bank Limited (NGBBL) has posted an outstanding net profit rise of 156.54% in the current fiscal year 2072/73. Publishing the unaudited financial report for the first quarter today, the development bank has stated that its net profit of the company rose to Rs 1.09crore in Q1 up from Rs 42.78 crore in the corresponding quarter of the previous fiscal year 2071/72. Its net interest income rose to Rs 19.56 crore up from Rs 15.70 crore in the corresponding quarter. The development bank has collected deposits of Rs 1.47 arba in Q1 up from Rs 1.24 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 5.64 arba in Q1 of FY 2072/73 whereas in the same period last year the figure stood at Rs 4.15 arba. NGBBL’s has a paid up capital of Rs 55.75 crore and has Rs 23.19 crore losses in reserve and surplus. Its NPL decreased from 9.09 percent in previous year report to 6.83 percent in the first quarter of the current fiscal year. Nepal Grameen’s annualized earning per share (EPS) stand at Rs. 7.87 and net worth per share is at Rs 58.40.