Kathmandu, Jan 28. In its Second Quarter (Q2) Result for FY 2020/21 published on 28 January 2021, NMB Bank has reported Net Profit of NPR 1.61 Billion. The available fund for distribution to shareholders after allocations for regulatory reserves and other provisions is NPR 1.51 Billion.
As of Q2, total gross deposit size of the bank stands at NPR 149.42 Billion and gross Risk Assets at NPR 143.65 Billion. During the first six months of the fiscal year, the Bank has been able to grow its deposits NPR 14.61 Billion and Risk Assets by NPR 21.88 Billion. NMB’s market share under Deposits have increased from 3.86% to 3.95% and under Risk Assets have increased from 4.19% to 4.43% during these six months period.
Savings Deposits have contributed around 65% of the total deposits growth, whereas the majority of the increase under Risk Assets have come from Agriculture, Energy, and SME sectors. As of Quarter End, the Bank has disbursed subsidy loans to 3,237 beneficiaries. The Bank remains soundly capitalized with a Capital Adequacy Ratio of 13.68% and NPL stands at 2.38%.
The Bank has been recognized as ‘Bank of the Year’ by The Banker, Financial Times, three times in the last four years. The Bank has signed a repeat loan mandate with IFC, a member of the World Bank Group, for a loan of USD 25 Million, thus becoming the only Bank in Nepal to receive consecutive financing from IFC over a span of two years. Further, the Bank has merged/acquired various Financial Institutions in the past few years to increase its reach across the country to 180 branches, 9 extension counters, and 135 ATM outlets.
These financial and non-financial achievements are a testimony of the Bank’s committed long-term strategy to maximize shareholders value.
