Tourism Development Bank's operational profit rises by 97.78%

ShareSansar, April 28:

Tourism Development Bank has reported massive 97.78 percent rise in operational profit in the third quarter of the current fiscal year.

According to the unaudited third quarter report of the bank working for the promotion of tourism in the country, its operational profit has shot up to Rs 10.51 crore, up from Rs 5.31 crore in the corresponding quarter of the last fiscal year.

Its net profit has also surged from Rs 5.88 crore to Rs 6.69 crore by the end of the third quarter—thanks to robust core business.

Tourism Development Bank also succeeded in mobilizing Rs 4.45 arba in deposit, which is 48.01 percent more than the figure of the corresponding quarter. It also mobilized Rs 3.48 arba in loan, which again is 28.34 percent rise as compared to the loan it released in the corresponding quarter.

The development bank’s EPS has now risen to Rs 13.94, and its net worth per shares stands at Rs 121.46.

Another good aspect of the Q3 balance sheet is that the development bank’s non-performing loan has decreased further to 2.27 percent, down from 2.29 percent.

The bank has been serving its customers through 13 branch offices and eight ATM counters spread across the country.

It is also planning to open a new branch at Gongabu area of the capital in near future, according to a press statement issued by the bank.