Tinau Mission Development Bank reports more than 150% growth in net profits till second quarter; other indicators reflect strong growth

Tue, Feb 11, 2020 1:23 PM on Financial Analysis, Latest,

Tinau Mission Development Bank (TMDBL) has registered a 156.91% net profit rise in the second quarter (Q2) of FY 2076/77. Tinau Development Bank recently merged with Mission Development Bank.

As per the unaudited report for the first quarter published today, the bank’s net profit has increased to Rs.10.46 Crore, which was Rs.4.07 Crore reported in the same quarter of the fiscal year 2075/76.

The bank has collected Rs.14.17 Arba in deposits and disbursed Rs.12.31 Arba in loans till Q2. Its Non-performing loan increased to 1.84% from corresponding quarter’s 0.46%. The company has Rs.1.67 Arba as the paid up capital with Rs.57.06 Crore in its reserves and surplus.

The net interest income of the company has increased to Rs.33.21 Crore compared to Rs.9.60 Crore posted in the corresponding quarter of the previous year.

The annualized EPS of the development bank stands at Rs.12.49 and the Net worth of the company stands at Rs.134.05.