Yeti Dev. Bank profit increases by 824% in Q2 due to massive recovery of bad loans

Yeti Development Bank Limited (YETI) has posted a net profit of Rs 16.05 crore in the second quarter for the fiscal year 2072/73.The profit increased by 824% as compared to the net profit of the corresponding quarter of the previous fiscal year. The development bank has recovered Rs 20.16 crore in bad loans which is rise of 131% as compared to the Q2 of last fiscal year. As per the unaudited financial report published today, the bank has posted net interest income of Rs 11.78 crore in the Q2 increasing from Rs 10.19 crore in the corresponding quarter of the previous fiscal year. It has collected Rs 8.76 arba in deposits and disbursed Rs 7.09 arba in loans compared to Rs 7.35 arba in deposits and Rs 6.04 arba in loans in the corresponding quarter of the previous fiscal year. Non Performing Loan (NPL) dropped to 7.26% from 15.47% in Q2. The development bank’s CD ratio is at 73.83%. It’s annualized Earning per Share (EPS) remains at Rs 23.17 and net worth per share is at Rs 84.92. Its PE stands at 6.17 times.