Net profit of Nepal Investment Bank grew by 22% prior to issuance of FPO

Kathmandu January 29- Operating with paid up capital of Rs. 6 billion 340 million Nepal Investment  bank's net profit has increased by 11.60% to Rs. 1 billion 70 million in the second quarter of current fiscal year from Rs. 966 million in the corresponding period of last year.

Deposit of the bank has increased by 22.72% to Rs. 98 billion 81.2 million in this quarter from Rs. 79 billion 926 million last year. Similarly, loan advance of the bank has outgrown by 21.55% to Rs. 77 billion 482.6 million from Rs. 63 billion 744.6 million last year. Net interest income of the bank has also augmented by 15.76% to Rs. 1 billion 664.8 million from Rs. 1 billion 438.1 million last year. Operating profit of the bank has boosted by 24.91% to Rs. 1 billion 439.3 million from Rs. 1 billion 152.3 million last year. Bank has kept Rs. 310 million in its provision and it has been able to recover Rs. 240 million bad debts in this quarter.

Nepal Investment Bank's EPS is of Rs. 33.98, P/E ratio of 22.89 times, net worth per share of Rs. 171.54. Its bad debt has been rested in 1.10% and risky assets are of 11.69%.