Swabalamban reports massive profit rise of 188 % in Q4, NPL, too, down to 0.5%

ShareSansar, August 6:

Swabalamban Bikas Bank has posted a massive profit rise of 188 percent in the fourth quarter of the last fiscal year 2070/71.

Publishing the unaudited financial report for the fourth quarter today, the microfinance institution has stated that its net profit has surged to Rs 18.27 crore by the quarter end, up from just Rs 6.33 crore in the corresponding quarter of the last fiscal year 2069/70.

Its net interest income rose to Rs 56.33crore in the fourth quarter from Rs 38.83 crore in the corresponding quarter.

The MFI based in Kathmandu mobilized Rs 1.59 arba in deposit and Rs 3.85 arba in loan as compared to Rs 1.19 arba in deposit and Rs 2.50 arba it had mobilized in loan in the corresponding quarter.

Swabalamban managed to pull off such an impressive profit despite provisioning Rs 1.02 crore for possible loss by the end of the fourth quarter.

It may also be noted that Swabalamban has been able to drastically reduce its non-performing loan from 1.18 percent to 0.50 percent—which is a huge achievement by any standard.

Swabalamban’s  EPS is now priced at an impressive 121.93, its net worth per share stands at 345 while the P/E ratio stands at 12.75 times.