Nerude Laghubitta profit surges by 48.91 percent in Q1, NPA stands 1.23%

ShareSansar, November 9:

Nerude Laghubitta Bikas Bank Limited has reported 48.91 percent rise in net profit in the first quarter of the fiscal year 2071/72.

Publishing the unaudited quarterly report of the first quarter today, bank has stated that its net profit rose to Rs 1.59  crore by the quarter end, up from Rs 1.06 crore in the corresponding quarter of the previous fiscal year 2070/71.

Its net interest income has increase to Rs 5.60 crore up from Rs 6.27 crore in the first quarter of the previous fiscal year.

Similarly, the bank has also succeeded in collecting Rs 53.48 crore in deposits and borrowed Rs. 76.87 crore ; whereas bank’s mobilized Rs 1.37 arba in loans and advances.

It has provisioned Rs 30.37 lakh for possible losses by the end of the first quarter.

The bank’s non-performing loan stands at 1.23 percent.