Net profit of Gramin Bikash Bank increases by 48%

Kathmandu February 25- Operating with the paid up capital of Rs. 557.5 million, net profit of Nepal Grameen Bikas Bank ltd has increased by 48.75% to Rs. 119 million in the second quarter of current FY which was Rs. 80.4 million in the corresponding period of last FY.

Deposit collection of the bank has increased by 26.79% to Rs. 1 billion 628.5 million which was Rs. 1 billion 628.5 million last year. Lending of the bank has increased by 25% to Rs. 5 billion 767.7 million. net interest income of the bank has increased by 62.21% to Rs. 630 million and operating profit of the bank has increased by 79.77% to Rs. 160.4 million. Bank's provision has Rs. 36.1 million balances while it has been able to recover Rs. 34.7 million bad debts during the period.

Bank has risky asset of Rs. 3.67% and bad debt of 5.1%.