Om Finance and Gandaki Bikas earns Rs 20.16 and 17 cr operating profit respectively in Q4

ShareSansar July 19:

Om Finance limited (OFL) has earned an operating profit of Rs 20 crore 16 lakh by the end of fourth quarter of the last fiscal year.

As per the press release published by finance on Shrawan 1, 2072 , the finance has collected Rs 4 arba 80 crore in deposits and its loan and advances stood at Rs 3 arba 94 crore. The company has earned Rs 12 crore 83 lakh profit in Q4.

The company CD ratio stood at 72.74% with 14.13% capital adequacy ratio and nonperforming loan stood at 0.71%.

Om Finance and City Development Bank have submitted application for letter of intent to Nepal Rastra bank (NRB).

After the merger the two companies will form a National level development bank,

Likewise, Pokhara based Gandaki Bikas Bank Limited (GDBL)  has gained operating profit of  17 crore  by the end of Fourth Quarter of the Fiscal Year 2071/72. According to CEO Chhabindra Nath Sharma , the bank has collected Rs. 4 arba 55 crore and its loan and advance stood at Rs. 3 arba 86 crore.

The bank has been providing banking services from 21 locations including the head office. Till date its total paid up capital remains at Rs 35 crore 20 lakh. Board of Director (BOD) of the bank has announced for a Special General Meeting on Shrawan 16, 2072 to increase its paid up capital by issuing 30% Right Share to its shareholders.

The customers of development bank are provided with free Mobile Banking, ATM, ABBS, Locker and Remittance services. The bank will provide additional services in the upcoming days, said the CEO of the bank Chhabindra Nath Sharma.