Yeti Dev Bank suffers loss of Rs 33.11 crore, NPL jumps to 12.83%

ShareSansar, August 20:

Yeti Development Bank Ltd has suffered a big loss of Rs 33.11 crore in the fourth quarter of the last fiscal year 2070/71.

The bank faced such a big loss last year due to the heavy amount of provisioning for the possible loss.

According to the unaudited financial results published today, the bank provisioned Rs 61.18 crore last year for the possible loss. The bank had earned Rs 6.9 lakh profit in the previous fiscal year 2069/70.

The report stated that the bank has earned Rs 27.17 crore as net interest income last year, up from Rs 16.56 crore in the previous year.

It also managed to write back Rs 14.46 crore last year from the amount that it had earlier provisioned for the possible loss.

The bank’s reserve and surplus also plunged toward negative zone with the loss of Rs 35.5 crore.
 
Non-performing loan (NPL) jumped to 12.83 percent from 10.03 percent last year.

Its EPS stands at -23.88, P/E ratio -7.24 and net worth per share is Rs 74.39.