Nepal Investment Bank’s profit drops by nominal 3% in Q1, but its NPL, too, drops significantly

ShareSansar, November 13:

Nepal Investment Bank Limited's net profit has dipped by 3.08 percent in the first quarter of the current fiscal year 2070/71.

An unaudited report for the first quarter of the commercial bank published today shows that the bank earned a net profit of Rs 46.26 crore in the first quarter, down from Rs 47.73 crore in the corresponding quarter of the last fiscal year.

Nepal Investment Bank has posted an operational profit of Rs 58.82 crore in the first quarter compared to Rs 58.57 crore in the corresponding quarter.

It also mobilized Rs 71.14 arba in deposit and Rs 50.02 arba in loan in the first quarter, up from 54.43 arba in deposit and Rs 44.40 arba in loan in the first quarter last year.

Its non performing loan has, however, has significantly dropped from 2.27 percent to 1.70 percent.

Nepal Investment Bank’s net worth per share stands at Rs 180.55 and its EPS (annualized) at Rs 44.58.