Fewa development bank earned 110.2 million net profit in 2nd quarter

Kathmandu January 20- Fewa development bank has succeeded to earn Rs. 110.2 million in the second quarter of current fiscal year which is 98.22% growth than the previous corresponding period which was Rs. 55.6 million.

Reserve fund of the bank has increased to Rs. 478.3 million from Rs. 175.7 million. Bank has collected deposit of Rs. 10 billion 530.1 million which is twice as the previous corresponding period that was Rs. 4 billion 171.2 million. Loan and advance has also increased twice from the corresponding period to Rs. 8 billion 835.5 million from Rs. 3 billion 694.5 million.

Net interest income has increased to Rs. 251.1 million from Rs. 105.7 million last year. Bank's interest income has increased twice whereas interest expense has decreased by 186%. Similarly, operating profit has also increased twice to Rs. 173.8 million which was Rs. 80.5 million. Bank has provision of Rs. 36.1 million.

In the second quarter of current fiscal year, bank has EPS of Rs. 27.02 (annual), P/E ratio of 12.58 times, Net worth per share of Rs. 158.60 and liquidity ratio of 28.97 times. Risky asset is at 13.59% whereas bad debt is of 1.59%.