Net profit of Agricultural development bank declined by 27%

Kathmandu February 12- Operating with Rs. 9 billion 860.8 million paid up capital, net profit of Agricultural Development Bank has decreased by 27.52% to Rs387.5 million in the second quarter of current FY which was Rs. 534.5 million in the corresponding period of previous FY.

Bank has balance of Rs. 5 billion 361.6 in reserve fund. Deposit of the bank has increased by 19.49% to Rs. 82billion 540.9 million from Rs. 69 billion 75.6 million of last year. Bank's loan and advance has increased by 9.41% to Rs. 67 billion 579 million. Similarly, net interest income of the bank has decreased by 14.69% to Rs. 1 billion 991 million and operating profit has declined by 47.93 % to Rs. 265.3 million. Bank has balance of Rs. 641.2 million in its provision and has recovered Rs. 327.1 million bad debt.

Bank has bad debt of 5.36 % and risky asset of 12.67 %. EPS of the bank is Rs 11.36, P/E ratio is 47.99 times, net worth per share is Rs. 256.59 and liquidity ratio of 32.30%.