Two fold rise in operational profit propels 29.6% profit growth for RBB in Q1

ShareSansar, November 17:

Rastriya Banijya Bank Limited has reported a net profit rise of 29.6 percent in its unaudited first quarter report made public today.

According to the state-run bank, it has posted a net profit of Rs 25.92 crore in the first quarter of the current fiscal year 2070/71 compared to Rs 20 crore in the corresponding quarter last year.

The bank’s operational profit has surged to Rs 18.43 crore , up from Rs 8.59 crore.

The bank’s net interest income has increased from Rs 54.49 crore in the corresponding quarter to Rs 76.35 crore in the first quarter.

Its non performing loan has also decreased from 6.95 percent to 5.55 percent.

Rastriya Banijya Bank mobilized Rs 92.78 arba in deposit and Rs 48.65 arba in loan in the first quarter compared to Rs 87.66 arba in deposit and Rs 41.25 arba in loan in the corresponding quarter.