Problematic Yeti Bank earns Rs 1.73 crore in Q2; still retain loss stands at Rs 46.19 crore

ShareSansar, February 1:

Problematic Yeti Development Bank Limited has posted a net profit of Rs 1.73 crore at the end of the second quarter of the fiscal year 2071/72. The company was loss in the corresponding quarter of last fiscal year 2070/71 by Rs 26.98 crore.

The bank’s net interest income reached Rs 10.19 crore in the second quarter this year, which is a growth of 12.01 percent compared to the income of the same period last year.

The banks current paid up capital is Rs 1.38 arba whereas bank is still in loss by Rs 46.19 crore.

While the bank was required to provision Rs 10.79 crore in the second quarter this year for the possible losses, but it could manage to write back Rs 8.72 crore that it had provisioned in the previous years for possible losses.

Yeti Development Bank observed a satisfactory growth in terms of deposit collection and loan supply during the review period. While the bank mobilized Rs 7.35 arba on deposit in the second quarter this year, it extended a total of Rs 6.04 arba on loans.

The bank non performing loan (NPL) rises to 15.47 percent in the second quarter from 13.60 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 1.25 and Rs 66.67 respectively. The P/E ratio remained 102.10 times.