Tinau becomes 1st dev bank to publish Q1 statement; profit jumps 50%

ShareSansar, October 22:

Tinau Development Bank Ltd has posted a profit rise by 50 percent in the first quarter of the current fiscal year 2071/72.

Publishing the unaudited financial statement today, the bank stated that it earned a net profit of Rs 64.08 lakh in the first quarter of the FY 2071/72, up from Rs 42.84 lakh in the corresponding period of the last fiscal year 2070/71.

The net interest income of the bank jumped to Rs 1.6 crore in the Q1 period of the current fiscal year from Rs 1.15 crore in the corresponding period last year. Butwal-based bank mobilized a total of Rs 1.82 arba in deposit and Rs 1.45 arba in loan in the review period.

It had collected Rs 1.54 arba deposit while floated Rs ss1.19 arba loans in the first quarter of last fiscal year.

Its net worth per share stands at Rs 128.68 and its EPS (annualized) at Rs 4.03 in the review period.