RDBL profit rises by 115.89% in Q 3, NPL stands at 4.13%

ShareSansar, May 19:

Rising Development Bank Limited stated amazing increase of 115.89 percent in its net profit for the third quarter of the current fiscal year 2070/71.

In the unaudited financial report for the third quarter published today, the bank has stated that its net profit has increased to Rs 3.67 crore from a loss of Rs 1.7 crore as compared to the corresponding quarter of the last fiscal year 2069/70.

The net profit of the bank was mainly fueled by the net interest income which has increased to Rs 6.75 crore from Rs 4.7 crore and the decrease in provision for possible loss to Rs 39.65 lakh from Rs 63.11 lakh as compared to the corresponding quarter.

The bank has mobilized Rs 1.38 arba in deposits as compared to Rs 1.06 arba of corresponding quarter whereas the loan has also increased to Rs 1.25 arba from 1.01 arba in this quarter.

Its non performing loan has decreased to 4.13 percent as compared to the corresponding quarter of last year which was 4.37 percent.

The EPS (Annually) stands at Rs 22.87, the net worth per share at Rs 122.76 and the P/E ratio is 7.91 times.