Net profit of Gandaki Bikas Bank falls to Rs.26.25 Crore till the end of second quarter; annualized EPS stands at Rs.17.82

Gandaki Bikas Bank Limited (GDBL)'s net profit has slightly decreased in the second quarter of the fiscal year 2076/77 compared to the corresponding quarter of the previous year.

As per the unaudited financial report for the second quarter published, the development bank has stated that its net profit has fallen from Rs.26.25 Crore in the corresponding quarter to Rs.24.50 crore till Q2 of the current fiscal year.

Its net interest income increased to Rs.66.14 crore till Q2 from Rs.55.42 Crore in the corresponding quarter previous year. The bank has collected deposits of Rs.31.78 Arba while it has mobilized loans and advances of Rs.26.99 Arba till Q2. The deposit and loan amount stood at Rs.23.64 Arba and Rs.22.83 Arba respectively in the immediate previous year ending.

Gandaki Bikas Bank has a paid-up capital of Rs.2.75 Arba and reserve of Rs.83.61 Crore.

Its non-performing loan (NPL) has increased to 0.93% in Q2 2076/77 compared to 0.41% posted in the corresponding quarter of the previous year.

It’s Earnings per Share (annualized) stands at Rs.17.82 and net worth per share stands at Rs.137.31. Its P/E ratio stands at 11.28 times. The company is in acquisition process by Mega Bank Limited.