Outstanding profit growth of Janata & Kumari Bank by 116.39% & 87.47% respectively in Q4

Janata Bank Nepal Limited (JBNL) has registered massive profit rise of 116.39 percent in the fourth quarter of the last fiscal year 2072/73. According to the unaudited financial report published by the commercial bank today, its net profit has surged to Rs 32.53 crore in third quarter up from Rs. 15.03 crore in the corresponding quarter of the last fiscal year 2071/72. Janata Bank’s net interest income has risen to Rs 74.76 crore in Q4 as compared to Rs 60.45 crore in the corresponding quarter. The bank operating profit has increasd by 160 percent. It’s paid up capital remains at Rs 2.06 arba with reserve of 6.22 crore in Q4 . The bank also amassed huge amount of deposits in the Q4 of the ongoing fiscal year. Deposits collection reached Rs 24.06 arba in Q4 from Rs 22.92 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 20.47 arba in Q4 whereas in the same period last year the figure stood at Rs 18.51 arba. Its non-performing loan has drop to 1.15percent in Q4 up from 1.86 percent in the previous year report. Its Earning per share (EPS) stand at Rs 15.79, net worth per share at 130.24  , and the P/E ratio at 28  times. Kumari Bank Limited (KBL) registered profit rise of 87.47 percent in the fourth quarter of the current fiscal year 2072/73. Its net profit increased to Rs. 74.01 crore in Q4 up from Rs 39.47 crore in the corresponding quarter. Publishing the unaudited financial report for Q4 today, the commercial bank’s deposit collection reached Rs. 37.95 arba in fourth quarter from Rs. 33.42 arba last year. It floated loans of Rs.30.11 arba, rising from Rs. 27.07 arba of the corresponding quarter of the previous fiscal year. The commercial bank’s net interest income reached to Rs. 1.17 arba, increasing from Rs. 92.57 crore in corresponding quarter. Kumari Bank’s paid up capital remains at Rs. 2.69 arba and with reserve of Rs 1.38 arba. The commercial bank has an operating profit of Rs.13.37 crore. Its NPL dropped to 1.11 % in Q4 from 2.49 % in the corresponding quarter. Kumari Bank’s EPS stands at Rs. 27.42 and net worth per share is at Rs. 151.43 Kumari Bank Limited has cancelled its merger with NCC Bank Limited. Kumari Bank was to merge with five financial institutions which were NCC Bank Limited, Infrastructure Development Bank Ltd (IDBL), International Development Bank Ltd (INDBL, Apex Development Bank Ltd (APEX)and Supreme Development Bank Ltd (SUPRME).