NMB Bank reports19.4 % profit rise in Q2 – thanks to write back of provision worth Rs 5.78 crore

ShareSansar, January 30:

NMB Bank Limited has reported a profit rise of 19.45 percent in the second quarter of the current fiscal year 2070/71.

According to its unaudited quarterly report for the second quarter published today, the commercial bank has stated that it has registered a net profit of Rs 19.77 crore in the second quarter, up from Rs 16.55 crore in the corresponding quarter last fiscal year.

The profit is attributable to massive Rs 5.78 crore in write back of provision for possible loss, besides its net interest profit of Rs 36.12 crore, up from Rs 35.28 crore in the second quarter last fiscal year.

NMB Bank also mobilized Rs 23.19 arba in deposit and Rs 17.41 arba in loan as compared to Rs 17.05 arba in deposit and Rs 14.77 arba in the corresponding quarter last year.

The bank’s non-performing loan has also decreased to 1.58 percent, down from 1.83 percent in the same period of the previous fiscal year.

Its EPS (annualized) stands at Rs 19.78 and its net worth per share stands at Rs 131.09.