Prabhu Bikas Bank's profit grows by almost 9 times in Q2

ShareSansar, February 6:

Prabhu Bikas Bank Limited has reported a massive profit growth of 891 percent in the second quarter of the current fiscal year 2070/71.

Publishing its quarterly report today, the development has stated that it earned a net profit of Rs 5.75 crore in the second quarter, up from Rs 58.37 lakh in the corresponding quarter of the last fiscal year 2069/70.

The profit was fuelled by the core business despite the fact that the development bank there was no write back of provision for possible loss and that it has even provisioned Rs 1.10 crore for the possible losses in the second quarter.

Prabhu registered a net interest income of Rs 16.21 crore in the second quarter, up from Rs 8.64 crore in the corresponding quarter.

It mobilized Rs 9.64 arba in deposit and Rs 7.01 arba in loan in the second quarter, up from Rs 7.52 arba in deposit and Rs 4.68 arba in loan in the second quarter of the last fiscal year.

Its non-performing loan has also marginally gone down to 0.42 percent in the second quarter, down from 0.45 percent in the corresponding quarter.