Prime & Lumbini Bank earns Rs 70.95 crore & 27.79 crore respectively in Q3

Prime Commercial  Bank Limited (PCBL) has reported a  net profit growth  by  28.20% in the third quarter for the fiscal year 2072/73.The commercial bank has earned  net profit of Rs.70.95 crore in Q3 increasing from Rs.55.34 crore in the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report for the third quarter today, the commercial bank has stated that the commercial bank’s net interest income increased to Rs 1.10 arba from Rs.95 crore in Q3. It collected deposits of Rs.46.27 arba in Q3 growing from Rs.38.15 arba in the corresponding quarter of the previous fiscal year. Likewise, It has floated loans of Rs.37.07 arba , up from Rs.31.13 arba. Prime Bank has a paid up capital of Rs.3.70 arba and reserve and surplus stands at Rs.1.33 arba. It has an operating profit of Rs.86.46crore. The commercial bank’s non- performing loan (NPL) dropped to 1.59 % in Q3 from 2.85 % in the previous quarter. Its earning per share (EPS) now stands at Rs.25.53, net worth per share at Rs.136.08, and P/E ratio at 22.33 times. Lumbini Bank Limited (LUBL) has posted  net profit growth by 12.62% in the third quarter of the fiscal year 2072/73.The commercial bank earned net profit of Rs.27.79 crore in the current fiscal year up from Rs.24.67  crore in the corresponding quarter of the previous fiscal year. As per the unaudited financial report for the third quarter today, Lumbini bank has  stated that the commercial bank earned a minimal net interest income of Rs.55.28 crore in Q3.The figure stood at Rs.50.10 crore in the corresponding quarter previous fiscal year. The commercial bank has collected deposits of Rs.22.94 arba increasing from Rs.18.64 arba in the corresponding quarter of the previous fiscal year. It mobilized loans of Rs.20.35 arba in Q3, up from Rs.16.75 arba in the corresponding quarter last fiscal year 2071/72. Lumbini Bank’s paid up capital remains at Rs.2 arba and reserve and surplus stands at Rs.1.16 arba. The commercial bank’s NPL dropped to 0.92% from 1.02% in Q3. LUBL’s EPS now stands at Rs.18.52, net worth per share at Rs.158.47, and P/E ratio at 21.65 times. Share transaction of Lumbini Bank and Bank of Kathmandu has been halted for the merger process from December 24, 2015.