Nerude's net profit rises 41%, NPL goes up to 1.3%

ShareSansar, August 12:

The net profit of the Nerude Laghubitta Bikas Bank Ltd (NLBBL) has risen by 41 percent in the fourth quarter of the last fiscal year 2070/71.

With the growth in the business, the profit, reserve and liquidity of the bank also increased in the last year.

Publishing the unaudited financial results today, it has stated that the net profit of the micro credit development bank increased to Rs 6.49 crore in the last fiscal year, up from Rs 4.6 crore in the previous year 2069/70.


The net interest income of NLBBL rose to 17.86 crore, up from Rs 12.91 crore in the previous year quarter ending.

The bank mobilized Rs 51.06 crore on deposit and Rs 1.27 arba on loans, up from Rs 38.91 crore on deposit and Rs 94.09 crore on loans on previous year.
 
The bank also set aside Rs 1.23 crore in the fourth quarter as provision for the possible loss.

Non-performing loan (NPL) of the bank, however, grew to 1.3 percent from 0.88 percent in the previous year quarter ending.

The EPS of the NLBBL stands at Rs 64.95, P/E Ratio at 21.56 times and net worth per share Rs 237.78.