Net profit of Innovative development bank increased by 15%, Gandaki earns above 50 million

 

Kathmandu February 5- Net profit of Innovative development Bank increased by 15.48% to Rs. 22.1 million in the second quarter of current FY which was Rs. 19.2 million in the corresponding period of previous FY.

Deposit of the bank has boosted by 28.16% to Rs. 2 billion 122.2 million from Rs. 1 billion 655.9 million of last year. Loan and advance of the bank increased by 28.05% to Rs. 1 billion 700.7 million from Rs. 1 billion 328.2 million last year. Net interest income has also increased by 30.40% to Rs. 54.9 million while operating profit has increased by 3.23% to Rs. 34.9 million from Rs. 30.1 million last year.

Bank's bad debt is of 0.66% and risky asset is of 12.46%. EPS of the bank is of Rs. 29.59, P/E ratio is 13.65 times, net worth per share is Rs. 156.94 and liquidity ratio is 29.43%.

Likewise, Net profit of Gandaki development Bank increased by 37.07% to Rs. 5 billion 32 million in the second quarter of current FY which was Rs. 57.5 million in the corresponding period of previous FY.

Deposit of the bank has boosted by 37.07% to Rs. 5 billion 32 million from Rs. 3 billion 210 million of last year. Loan and advance of the bank increased by 26.35% to Rs. 4billion 56 million from Rs. 3 billion 210 million last year. Net interest income has also increased by 17.93% to Rs. 116.1 million while operating profit has increased by 32.85% to Rs. 84.9 million from Rs. 6.39 million last year.

Bank's bad debt is of 0.22% and risky asset is of 11.67%.