NIBL reports 5.3 % profit rise in second quarter; its NPL drops from 3.17 to 1.76

ShareSansar, January 30:

Nepal Investment Bank Limited has reported a marginal rise in profit in the second quarter of the current fiscal year 2070/71.

Publishing the unaudited quarterly report for the second quarter today, the commercial bank with one of the largest client bases, has stated that it has posted a profit rise of 5.34 percent in the second quarter as its net profit rose to Rs 93.88 crore, up from Rs 89.12 crore in the corresponding quarter last fiscal year.

The profit of the bank was basically caused by its profit from regular activities as it has risen from 1.40 arba to 1.47 arba.

NIBL also mobilized Rs 71.99 arba in deposit and 52.25 arba in loan in the second quarter up from Rs 55.13 arba in deposit and Rs 46.44 arba in loan in the corresponding quarter last fiscal.

NIBL has also reported Rs 21.27 crore as a write back of provision for possible loss in the second quarter.

Its net interest income, however, has dropped marginally from Rs 1.45 arba to Rs 1.41 arba owing to larger interest expense.

On the other hand, its non-performing loan has dropped from 3.17 percent to 1.76 percent in the second quarter.

It’s EPS (annualized) stands at Rs 45.28 and net worth per share stands at Rs 191.99.