RBB earns huge Rs 3.60 arba in Q2; mainly profit comes from sale of NIBL promoter share

ShareSansar, February 12:

According to an unaudited financial statement published today, the Rastriya Banijya Bank (RBB) disclosed that it achieved a net profit of Rs 3.60 arba in the second quarter of the current fiscal year compared to the net profit of Rs 71.78 crore in the corresponding period of last fiscal year 2070/71.

RBB huge profit in this quarter is mainly supported by the earning it had made by selling 15 percent promoter share of Nepal Investment Bank. It has earn Rs 2.87 arba under non operating income heading. The bank has able to make its capital adequacy ratio (CAR) positive by 10.05 percent. Prior, RBB capital adequacy ratio was negative by 33 percent.

The bank’s net interest income reached Rs 1.93 arba in the second quarter this year, which is a growth of 12.19 percent compared to the income of the same period last year.

The Bank able to write back Rs 71.09 crore and provisioned Rs 27.60 crore for possible losses.

RBB observed a satisfactory growth in terms of deposit collection and loan supply during the review period. While the bank mobilized Rs 102.54 arba on deposit in the second quarter this year, it extended a total of Rs 65.89 arba on loans.

RBB still has retains loss of Rs 2.60 arba and has paid up capital of Rs 8.58 arba.