Net profit of Gorkha development bank increases by 2 times

Kathmandu February 26- in the second quarter of current FY, Gorkha development Bank Ltd has succeeded to earn Rs. 331.5 million which is 2.50 times growth than corresponding period of previous FY.

Deposit collection of the bank has decreased by 68.39% to Rs. 409.8 million which was Rs. 1 billion 294.3 million last year.

Similarly, loan and advance of the bank has decreased by 46.71% to Rs. 632.7 millon. Net interest income of the bank has increased by 4 times to Rs. 108.3 million and operating profit has negative balance of Rs. 139.3 million. Bank has Rs. 272.8 million in its provision and has been able to recover Rs. 560.6 million bad debt during the period.

EPS of the bank is of Rs. 167.24, liquidity ratio of 35.50%, bad debt of Rs. 76.04% and risky asset of Rs. 4.39%.