NIBL’s Q2 performance remains stagnant; earns Rs 96.54 crore

ShareSansar, January 29:

Nepal Investment Bank Limited (NIBL), one of the leading banks of the country, has reported a meager net profit rise of 2.66 percent in the second quarter of the current fiscal year 2071/72.

Publishing the unaudited quarterly report for the second quarter today, the commercial bank has stated that it has posted a net profit of Rs 96.54 crore in the second quarter, up from Rs 94.03 crore in the corresponding quarter of the last fiscal year 2070/71.

In the second quarter NIBL’s net interest income has risen to Rs 1.44 arba, up from Rs 1.41 arba in the corresponding quarter.

It also mobilized Rs 79.92 arba in deposit and Rs 63.74 arba in loan as compared to Rs 71.99 arba in deposit and Rs 52.25 arba in loan in the corresponding quarter last year.

The banks has provisioned Rs 36.37 crore for possible losses whereas its write back Rs. 36.82 crore from possible losses.

The bank’s non-performing loan has also dropped to 1.13 percent, down from 1.76 percent in the same period of the previous fiscal year.

Its EPS (annualized) now stands at Rs 40.47 and its net worth per share is priced at Rs 186.50.

Similarly, NIBL’s Price Earnings Ratio (annualized) stands at 18.04 times and its returns on equity and asserts (annualized) stand at 21.70% and 2.05% respectively.