NIBL’s Q3 net profit rises by 4 percent, NPL drops by almost 1 percent

ShareSansar, April 29:

Nepal Investment Bank Limited (NIBL) has posted 4 percent growth in net profit by the end of the third quarter of the current fiscal year 2070/71.

Publishing the unaudited financial report for the third quarter today, one of the leading commercial banks has stated that the group net profit rose to Rs 1.39 arba up from 1.34 arba in the corresponding quarter of the last fiscal year 2069/70.

Though NIBL’s net interest income has slightly dropped from Rs 2.26 arba to 2.16 arba in the third quarter, it posted an operating profit of Rs 1.91 arba, up from Rs 1.73 arba in the corresponding quarter.

The profit is attributable to a large extent to Rs 25.92 crore NIBL wrote back for the amount provisioned for possible losses.

The bank has mobilized significantly higher deposit of Rs 71.32 arba as compared to Rs 58.52 arba in the corresponding quarter. Likewise, it mobilized Rs 53.56 arba in loan, up from Rs 46.92.

It may also be noted that NIBL’s non-performing loan has considerably gone down from 2.53 percent in the third quarter of the last fiscal to 1.63 percent by the end of the third quarter of the current fiscal.

Its EPS (annualized) now stands at 44.75 and its net worth per share is now priced at 202.93.