Nepal Investment Bank net profit surges by 50.30% in Q2 to Rs 1.64 arba

Nepal Investment Bank Limited (NIB) has posted net profit growth by 50.30 percent in the second quarter of the current fiscal year 2073/74. Publishing the unaudited financial report for the second quarter today, the commercial bank has stated that the bank’s net profit rose to Rs 1.64 arba in Q2, up from Rs 1.09 arba in the corresponding quarter of the previous fiscal year 2073/74. The bank has deposit base of Rs 1.16 kharba in Q2 compared to Rs 98.06 crore in the corresponding quarter of the previous fiscal year. Likewise, it has extended loans of Rs 96.70 arba up from Rs 77.48 arba. NIB’s net interest income has increased to Rs 2.37 arba in the current quarter up from Rs 1.67 arba in the second quarter of FY 2073/74. Its paid up capital remains at Rs 8.70 arba with reserve of Rs 9.29 arba. Nepal Investment Bank had distributed 20% bonus share and 21% cash dividend for the FY 2072/73. It is acquiring Ace Development Bank Limited. NIB’s non-performing loan has dropped to 0.70% from 1.10% in Q2. Its annualized Earning Per Share (EPS) now stands at Rs 37.68, net worth per share at Rs 206.81 and PE ratio at 18.98 times.