Prabhu & Grand Bank earns Rs. 26.17 & Rs. 1.66 crore respectively in Q1

Prabhu Bank Limited (PRVU) has reported a net profit of Rs. 26.17 in the first quarter of the fiscal year 2072/73. Publishing the unaudited quarterly report for the first quarter today, the commercial bank has stated that it has a net profit of Rs. 26. 17 crore in the first quarter of fiscal year 2072/73, up from net loss of Rs. 11.68 crore in the corresponding quarter of fiscal year 2071/72. Its net interest income surged from Rs. 24.71crore in the previous year to Rs. 34.48 crore in Q1 of the current fiscal year. Bank has a Paid up capital of Rs. 3.20 arba and a Reserve of Rs. 70.53 crore at present. Prabhu Bank collect Rs. 45.66 arba in deposits and mobilized Rs. 30.03 arba in loans in the first quarter of 2072/73 as compared to Rs. 31.67 arba in deposit and Rs. 23.97 arba in loans in the corresponding quarter of fiscal year 2071/72. The bank’s non-performing loan has drop to 5.71 percent in Q1 from 15.65 percent in the previous year report. It’s earning per share (EPS) stand at Rs. 32.01, net worth per share at 121.98, and the P/E ratio at 12.96 times. Grand Bank Nepal Limited (GRAND) has reported profit of 1.66 crore in the first quarter for the fiscal year 2072/73. The commercial bank was in loss of Rs 28.06 crore in the corresponding quarter of the previous fiscal year. As per the unaudited financial report published by the bank today, the commercial bank’s net interest income has risen to Rs.4.09 crore in the Q1. The bank also collected amount of deposits equal to Rs. 7.35 arba in Q1, decreasing from Rs. 15.54 arba in the corresponding period last year. It has extended loans and advances of Rs.8.99 arba in Q1 whereas in the same period last year the figure stood at Rs.14.06 arba. Its non-performing loan peaked to 38.03percent in Q1 from 25.49 percent in the corresponding quarter of the previous fiscal year. Grand Bank’s annualized earning per share (EPS) stands at Rs.3.33, annualized net worth per share at Rs.25.99, and P/E ratio at 55.26 times.