NMB Bank net profit of Rs 771.19 million; growth in profit due to merger

NMB Bank Ltd published its unaudited financial result for the third Quarter of 2072/73. The Bank posted a net profit of NPR 771.19 Million recording an impressive growth of 350 million (83%) from the preceding quarter. The overall Risk Assets volume increased by 5.7 Billion (13.3%) whereas deposits grew by 5 Billion (9.5%) from the last quarter. As at the end of the third quarter, the Bank’s Gross Risk Assets stands at 49.75 Billion and Deposits at 57.45 Billion. The Bank has attributed this profitability growth primarily to synergistic effect of recent historical merger which in turn led to increase in business volume, increased fees and commission from existing and new products and better funds and cost management. NMB Bank has 68 branches, 7 extension counters and 48 ATM outlets across the country.