Three development banks publish their first quarterly report; look at the major highlights

Corporate Development Bank Limited (CORBL) has reported net profit of Rs.2.24 Crore for the first quarter of the fiscal year 2076/77. The development bank’s profit was Rs.5.40 Crore in the corresponding quarter of the FY 2075/76.

It earned Rs.1.03 Crore as net interest income which has decreased from Rs.1.10 Crore in the corresponding quarter of previous year.

The paid-up capital stands at Rs.37.05 Crore with reserves of Rs.2.16 Crore in the mentioned period. The non-performing loans of the company fell from 45.13%, posted in the corresponding quarter of the previous year, to 26.17% by the end of the first quarter.

Annualized earnings per share (EPS) stands at Rs.6.04 and Net worth per share stands at Rs.106.56. The PE Ratio stands at 17.21 times.

Saptakoshi Development Bank Limited (SKDBL) has registered an increase of 135.06% in its net profit in the first quarter of the FY 2076/77.

Its net profit has increased to Rs.87.11 Lakhs in first quarter, from Rs.37.05 Lakhs in the corresponding quarter of the fiscal year 2075/76.

SKDBL’s net interest income rose to Rs.5.55 Crore in Q1 as compared to Rs.2.70 Crore in the corresponding quarter of the last fiscal year. It has a paid up capital of Rs.78.71 Crore with a reserve of Rs.10.07 Crore.

The bank also collected deposits of Rs.2.87 Arba till Q1, and extended loans and advances of Rs.2.44 Arba. The non-performing loan of the development bank has increased from 1.48% to 3.33% by the end of the first quarter.

SKDBL’s annualized Earnings per Share (EPS) stands at Rs.4.43 per share and has a Net worth of 124.52 per share. The bank posted an annualized PE Ratio of 27.77 times. 

Miteri Development Bank Limited (MDB) has reported minimal increase in net profit in the first quarter of the current fiscal year 2076/77.

The development bank has stated that its net profit increased to Rs.2.8765 Crore in Q1 from Rs.2.8708 Crore reported in the corresponding quarter of the previous fiscal year 2075/76.

It has collected deposits of Rs.4.93 Arba and floated loans of Rs.4.05 Arba in Q1 of current fiscal year. It’s paid up capital stands at Rs.58.50 Crore and has reserve of Rs.14.41 Crore.

Its annualized Earning Per Share (EPS) now stands at Rs.19.67, net worth per share at Rs.148.92 and P/E ratio at 12.46 times.