Rastriya Banijya makes 160% profit growth; Profit rises due to sell of NIBL promoter share

ShareSansar, November 18:

The government owned Rastriya Banijya Bank Ltd. (RBBL) has posted a massive growth of 160 percent in the first quarter of the last fiscal year 2070/71.

Publishing the unaudited financial results today, the bank stated that its net profit reached Rs 67.38 crore, up from Rs 25.92 crore in the corresponding period of the previous fiscal year 2070/71.

The bank has been able to earn Rs 58.68 crore in the non-operation income headings, which mainly come from the selling of Nepal Investment Bank Promoter share, which bank auctioned two months back.

The bank earned Rs 78.07 crore as the net interest income, which is a rise of Rs 1.71 crore in comparison to the previous fiscal year.

RBBL was able to write back Rs 10.23 crore from the amount that the bank had earlier provisioned for the possible losses, while Rs 9.29 crore was kept for provision purpose during the given period.  

Another good part of the financial report of the bank is that it shows the substantial fall in the  non-performing loan (NPL) of the bank, which has come down to 3.95 percent from 5.55 percent last year.

The bank has collected Rs 105.01 arba in deposits and mobilized Rs 60.86 arba in loans in the first quarter of the fiscal year 2071/72.

For Financial Report: CLICK HERE