Net profit of Ace Development Bank increased by 84%

Kathmandu February 16- Operating with the paid up capital of Rs. 1 billion, Ace Development Bank's net profit in the second quarter of current FY increased by 84.31% to Rs. 94.7 million from Rs. 51.7 million in the corresponding period of previous FY.

Deposit of the bank has increased by 18.62% to Rs. 7 billion 107.7 million which was Rs5 billion 991.1 million in previous year's corresponding period. Loan and advance of the bank has increased by 27.17% to Rs. 6 billion 210.3 million. Net interest income of the bank has also increased by 37.05% to 185.1 million while its operating profit has increased by 2 times to Rs. 89 million. Bank has maintained balance of Rs. 45.7 million in its provision and has written back 53.1 million in provision for losses.

Bank has bad debt of 3.87% and risky asset of 15.04%. EPS of the bank is Rs. 18.93, P/E ratio of 16 times, net worth per share of Rs. 125.75 and liquidity ratio of 23.94%.