NMB posts 19% profit growth by Q4; NPL drops significantly to 0.55%

ShareSansar, August 5:

NMB Bank Limited has reported an impressive profit rise of 19 percent in the last fiscal year 2070/71.

Publishing the unaudited financial report for the fourth quarter today, the commercial bank has stated that its net profit has risen to Rs 43.37 crore, up from Rs 36.66 crore at the end of the previous fiscal year 2069/70.

The growth is attributable to both its core business and a massive sum it succeeded to write back by the end of the fourth quarter.

NMB’s net interest income grew to Rs 80.92 crore in the fourth quarter from Rs 76.23 crore in the corresponding quarter.

It mobilized Rs 26.27 arba in deposit and Rs 20.46 arba in loan as compared to Rs 21.94 arba in deposit and Rs 16.49 arba in loan it had mobilized in the previous fiscal year.

By the end of the fourth quarter, it also managed to write back Rs 20.51 crore of the sum it had provisioned for loss.

Yet another inspiring aspect of the financial report is that NMB’s non-performing loan has dropped to 0.55 percent, down from 1.80 percent.

Its EPS (annualized) stands at Rs 20.50, P/E ratio at 25.12 and net worth per share stands at Rs 141.71.