Nepal Grameen Bikas earns Rs 15.99 cr in Q3; NPA declined but hovers above danger level

Nepal Grameen Bikas Bank Limited (NGBBL) has registered profit rise of 37.71 percent in the third quarter of the current fiscal year 2072/73. According to the unaudited financial report published by the microfinance company today, its net profit has surged to Rs 15.88 crore in third quarter up from Rs. 11.61 crore in the corresponding quarter of the last fiscal year 2071/72. Nepal Grameen Bank’s net interest income has risen to Rs 88.60 crore in Q3 as compared to Rs 58.32 crore in the corresponding quarter. It’s paid up capital remains at Rs 55.75 crore and reserve account is negative by Rs 7.96 crore. Deposits collection reached Rs 1.71 arba in Q3 from Rs 1.34 arba in the corresponding period last year and its borrowed Rs 4.20 arba. Likewise, it has extended loans and advances of Rs 6.15 arba in Q3 whereas in the same period last year the figure stood at Rs 4.96 arba. Its non-performing loan has decline from 7.23 percent in last year report to 5.99 percent in the current quarter. NGBBL annualized Earning per share (EPS) stand at Rs 38.26 and net worth per share at  Rs 85.71. The company has also announced its 1st AGM schedule to happen on 10th Asad, 2073.