Write back and net interest gain lead to 18 % profit rise for NMB Bank in Q3

ShareSansar, April 27:

NMB Bank Limited has reported a profit rise of 18 percent in the third quarter of the current fiscal year 2070/71.

According to its unaudited quarterly report for the third quarter published today, the commercial bank has stated that it has registered a net (group) profit of Rs 31.24 crore in the third quarter, up from Rs 26.62 crore in the corresponding quarter of the last fiscal year 2069/70.

The profit is attributable to Rs 6.41 crore in write back of provision for possible loss, besides its net interest income of Rs 58.17 crore, up from Rs 56.27 crore in the second quarter last fiscal year.

NMB Bank also mobilized Rs 23.95 arba in deposit and Rs 19.60 arba in loan as compared to Rs 19.49 arba in deposit and Rs 15.89 arba in the corresponding quarter last year.

The bank’s non-performing loan has also decreased to 1.32 percent, down from 1.90 percent in the same period of the previous fiscal year.

Its EPS (annualized) has now risen to Rs 20.04 and its net worth per share stands at Rs 136.24.

NMB Bank has been performing well in the current fiscal year. In the second quarter, too, it had reported an impressive profit rise of 19.45 percent as it registered a net profit of Rs 19.77 crore in the second quarter, up from Rs 16.55 crore in the corresponding quarter last fiscal year.