Dev Development Bank net profit declined by 14%

Kathmandu November 24- Dev Development Bank succeeded to earn Rs. 39.1million net profits in the first quarter of current fiscal year which is 14.12% growth than the previous corresponding period which was Rs. 45.5 million last year.

Deposit collection of the bank has increased by 42.41% to Rs. 6 billion 841.9million from Rs. 4billion 804.1 million last year. Lending of the bank increased by 72.50% to Rs. 5 billion 152.2 million which was Rs. 2 billion 986.7 million last year. Net interest income has increased by 3 times to Rs. 71.3 million from Rs 19.2 million last year. Bank has earned operating profit of Rs. 61.1 million.  Provision of the bank amounted to Rs. 24.8 million.

According to the quarterly report, EPS of the bank is Rs. 19.14, net worth per share is Rs. 129.85, liquidity ratio is 11.20% and P/E ratio is 45.55 times. In the first quarter, bad debts of the bank are 16.01% and Risky assets are of 4.80%.