National Microfinance earned Rs. 13.8 million net profit

Kathmandu January 31- Operating with Rs. 70 million paid up capital, National Microfinance earned Rs. 13.8million net profit in the second quarter of current fiscal year which was Rs. 200 thousands(negative) in corresponding period of previous fiscal year.

Company has balance of Rs. 23.4 million in its reserve fund. Deposit collection of the microfinance has grown by 11 times to Rs. 56 million which was Rs. 5 million last year. Loan and advance has also boosted by 2 times to Rs. 607.1 million which was Rs. 224.3 million last year. Net interest income has increased by 9 times to Rs. 35.9 million which was Rs. 3.8 million last year. Interest income and interest expenses have increased by 9 times and 11 times respectively. Similarly, operating profit of the finance is of Rs. 21.7 million while its provision amounted to Rs. 88.9 million.

In the second quarter of current fiscal year, finance's risky asset has decreased by 13.81% to 16% and bad debt is of 1.47%.