Net profits of Nepal Community Development Bank rises by 21% to Rs.5.22 Crore by the end of Q4; NPL falls to 0.35%

Nepal Community Development Bank (NCDB) has published its unaudited financial report of the fourth quarter (Q4) of FY 2075/76.

According to the report, the bank has registered an increase in net profit by 21% to reach Rs.5.22 Crore till Asadh end of FY 2075/76 from Rs.4.31 Crore in the corresponding quarter of the fiscal year 2074/75.

Its net interest income has risen to Rs.17.43 Crore in Q4 as compared to Rs.12.56 Crore in the corresponding quarter. On the other hand, the operating profit increased by 51.50% to Rs.5.66 Crore from Rs.3.74 Crore.

Its paid-up capital remains at Rs.53.16 Crore with Rs.7.70 Crore in its reserve. Deposits collection reached Rs.3.90 Arba in Q4 and floated loans of Rs.3.41 Arba.

Its non-performing loan (NPL) has fallen from 0.77% in the corresponding quarter of the previous year to 0.35% in the Q4 of FY 75/76. Its EPS stands at Rs.9.83, Net worth per share at Rs.114.50 and P/E ratio at 14.75 times.

The development bank is currently in the process of merger with Tinau Development Bank and Mission Development Bank. With aim of becoming a national level development bank, the merged entity will have a paid up capital of Rs.1.67 Arba with deposits of Rs.13.77 Arba and loans and advances worth Rs.12.23 Arba. The merged entity will be functioning through a network of 60 branches across the nation.