NIC Asia Bank’s profit rises massively by 170%; Net worth per share stand at Rs 163.46

NIC Asia Bank Limited (NICA) has reported an outstanding rise in the net profit for the first quarter of the fiscal year 2075/76. As per the quarterly report published today, the net profit has increased by 170.09% in the fiscal year.

The bank’s profit has increased from Rs 27.86 crore in the first quarter of the fiscal year 2074/75 to Rs 75.26 crore in the first quarter of the fiscal year 2075/76. In the first quarter of the FY 2075/76, the bank had Rs 58.22 crore as Free Profit after Regulatory Adjustments which can be utilized in distributing dividends to its shareholders.

The bank’s deposit has decent growth rate of 55.62% to Rs 1.61 kharba and loans and advances have also increased by 60.55% to Rs 1.39 kharba in the first quarter.

The net interest income of the bank has increased to Rs 1.86 arba from Rs 59.69 crore of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.03 arba with Rs 5.09 arba as its reserve as of the end of FY 2075/76.

The Non-Performing Loan (NPL) has also increased to 0.26% from 0.06%.

In the first quarter, the EPS of the bank stands at Rs 37.49. The net worth per share stands at Rs 163.46.

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