Western Development Bank Limited (WDBL) has posted increase in profit of 35.34 percent for the fiscal year 2074/75.
According to the unaudited financial report published by the bank today, its net profit has increased to Rs 3.58 crore in the second quarter from Rs 2.64 crore in the corresponding quarter of the previous fiscal year 2073/74.
WDBL’s net interest income has increased significantly by 57.51% to Rs 7.63 crore in Q2 from Rs 4.84 crore in the corresponding quarter of the previous fiscal year.
The bank collected Rs 2.98 arba in Q2 from Rs 2.29 arba in the corresponding period last year as deposits.
Likewise, it has extended loans and advances of Rs 2.04 arba in Q2 whereas in the same period last year the figure stood at Rs 1.73 arba.
Its non-performing loan has surged to 2.18 percent from 0.71 percent of last year.
Western Development Bank’s annualized earning per share (EPS) stands at Rs 16.68 and net worth per share at Rs 119.05.
Its paid-up capital remains at Rs 42.93 crore and has reserve of Rs 8.17 crore. It’s necessary to maintain minimum capital of Rs 50 crore as per the requirement of NRB.
Western Development Bank Limited & Namaste Bittiya Sanstha Limited had merged in 1:1 ratio and started joint transaction from Asoj 29, 2074. However, it still has not met the capital requirement of NRB.
Major Highlights:
| Particulars (In Rs '000) |
WDBL |
| Q2 2074/75 |
Q2 2073/74 |
Difference |
| Paid Up Capital |
429,312 |
156,960 |
173.52% |
| Reserve & Surplus |
81,765 |
91,156 |
-10.30% |
| Deposits |
2,980,379 |
2,299,369 |
29.62% |
| Borrowings |
- |
- |
- |
| Loans & Advances |
2,405,228 |
1,738,185 |
38.38% |
| Net Interest Income |
76,330 |
48,460 |
57.51% |
| Provision for possible losses |
10,856 |
12,670 |
-14.31% |
| Operating Profit |
56,273 |
41,578 |
35.34% |
| Net Profit |
35,810 |
26,459 |
35.34% |
| NPL (%) |
2.18 |
0.71 |
207.04% |
| Annualized EPS (In Rs.) |
16.68 |
33.71 |
-50.52% |
| Net Worth per Share (In Rs.) |
119.05 |
158.08 |
-24.69% |
Q2 Report
However, Purnima Bikas Bank Limited (PURBL) has posted decrease in profit of 21.81 percent for the fiscal year 2074/75.
According to the unaudited financial report published by the bank today, its net profit has decreased to Rs 3.64 crore in the second quarter from Rs 4.66 crore in the corresponding quarter of the previous fiscal year 2073/74.
Its net interest income has also decreased to Rs 7.39 crore in Q2 from Rs 8.74 crore in the corresponding quarter of the previous fiscal year.
The bank collected Rs 2.58 arba in Q2 from Rs 2.43 arba in the corresponding period last year as deposits.
Likewise, it has extended loans and advances of Rs 2.21 arba in Q2 whereas in the same period last year the figure stood at Rs 2.04 arba.
Its non-performing loan has decreased to 0.24 percent from 0.31 percent of last year.
Purnima Bikas Bank’s annualized earning per share (EPS) stands at Rs 13.89, net worth per share at Rs 118.87 and the P/E ratio at 16.2 times.
Its paid-up capital remains at Rs 52.50 crore and has reserve of Rs 9.90 crore.
Major Highlights:
| Particulars (In Rs '000) |
PURBL |
| Q2 2074/75 |
Q2 2073/74 |
Difference |
| Paid Up Capital |
525,031 |
352,385 |
48.99% |
| Reserve & Surplus |
99,095 |
95,162 |
4.13% |
| Deposits |
2,581,092 |
2,432,540 |
6.11% |
| Borrowings |
- |
- |
- |
| Loans & Advances |
2,214,298 |
2,046,369 |
8.21% |
| Net Interest Income |
73,991 |
87,438 |
-15.38% |
| Provision for possible losses |
3,694 |
4,729 |
-21.89% |
| Operating Profit |
55,753 |
72,826 |
-23.44% |
| Net Profit |
36,467 |
46,637 |
-21.81% |
| NPL (%) |
0.24 |
0.31 |
-22.58% |
| Annualized EPS (In Rs.) |
13.89 |
26.47 |
-47.52% |
| Net Worth per Share (In Rs.) |
118.87 |
127.01 |
-6.40% |
| P/E Ratio (In times) |
16.2 |
- |
- |
Q2 Report
