Paschimanchal Bikas shows outstanding result in Q2; net profit grows by 122.11%

ShareSansar, February 1:

Paschimanchal Bikas Bank Limited (PDBL) has posted profit growth of 122.11 percent in the second quarter of the current fiscal year 2071/72.

According to an unaudited financial statement published today, the bank disclosed that it achieved a net profit of Rs 4.08 crore in the second quarter of the current fiscal year compared to the net profit of Rs 1.83 crore in the corresponding period of last fiscal year 2070/71.

The bank’s net interest income reached Rs 9.24 crore in the second quarter this year, which is a growth of 22.86 percent compared to the income of the same period last year.

The banks current paid up capital is Rs 33.65 crore and it has Rs 19.54 crore in reserve and surplus account.

PDBL collected Rs 3.57 arba in deposit in the second quarter this year; it extended a total of Rs 2.97 arba on loans.

The bank also managed to slash its non performing loan (NPL) to 0.74 percent in the second quarter from 3.53 percent in the corresponding period of last year.

The annualized earning per share (EPS) and the net worth per share of the bank stand at Rs 24.27 and Rs 158.08 respectively. The P/E ratio remained 20.84 times.
Recently, PDBL signs MoU with Mega Bank Limited for merger at the swap ratio of 104.25:67.