Bagmati Development Bank earns Rs. 1 million net profit

Kathmandu November 24- With the paid up capital of Rs. 50 million, Bagmati Development Bank earned Rs. 1 million net profits in the first quarter of current fiscal year which is 28.45% growth than the previous corresponding period.

Reserve fund of the bank amounted to Rs. 19.1 million which was Rs. 12.7 million last year. Deposit collected jumped by 47.95% to Rs. 591 million from Rs. 399.4 million last year. Lending of the bank is of Rs. 381.1 million which was Rs. 312.1 million last year. Net interest income decreased by 21.22% to Rs. 3.8 million from Rs. 4.9 million last year. Interest income and interest expenses of the company have increased by 14.89% and 38.46% respectively. Similarly, operating profit has decreased by 73.36% to Rs. 600 thousands. Bank has been able to recover Rs. 1 million bad debts in the review period.

According to the quarterly report, EPS of the bank is Rs. 2.18, P/E ratio is 134.4 times, net worth per share is 138.53 and liquidity ratio is 44.82 times. Risky assets have decreased by 3.79% to 15.20% from 18.99% of last year.