Supreme Development profit soars by 181.74%; Vibor Bikas posts Rs 10.28 cr in profit

ShareSansar, April 23:

Supreme development bank has reported a massive growth in profit. The bank’s profit surged to Rs 4.35 crore in the third quarter of fiscal year 2071/72 from Rs 1.54 crore reported in the same period last fiscal, which is a rise of 181.73%.

Supreme Development Bank has mobilized a deposit of Rs 2.90 arba whereas its loan and advances stand at 3.08 arba. The bank’s net interest income is at Rs 13.81 crore.

Its annualized earnings per share stand at Rs 7.16 and net worth per share at Rs 126.61. The bank as reported a CD ratio of Rs 79.03%.

Supreme’s nonperforming loan (NPL) has declined to 2.83% from 6.90% in  the corresponding period of last fiscal.

Likewise, Vibor Bikas Bank Limited, which had posted a loss of Rs 16.17 crore in the third quarter of last fiscal year, has reported a net profit of Rs 10.28 crore for the same period this year.   

According to unaudited financial statement published by the development bank, its deposits stand at Rs 4.19 arba and loans and advances at Rs 3.54 arba.

The bank’s earning per share stands at Rs 11.21, net worth per share at Rs 69.20. The CD ratio stands at 74.67%.

Vibor Bikas Bank has managed to significantly lower its non-performing loans. Its NPL fell to 3.35% from a troubling 17.14% in the corresponding quarter of the previous year

The bank posted a net interest income of Rs 88.76 crore.

Vibor has managed to minimize its operating loss to 6.65 crore from 26.17 crore reported in the corresponding quarter of previous fiscal year.