Gorkha Development Bank earned 130 million net profits in the first quarter

Kathmandu November 24- Gorkha Development Bank succeeded to earn Rs.130 million net profit in the first quarter of the current fiscal year which is 3 times increment than the corresponding period of last fiscal year which was Rs. 40 million.

Collection of deposit by the bank has decreased by 32.25% to Rs. 1 billion 79.7 million which was Rs. 1 billion 593.7 million last FY. Loan and advance has decreased by 26.68% to Rs. 957.3 million from 1 billion 305.7 million last FY. Similarly, net interest income has negative balance of Rs. 90 thousands which was Rs. 9 million 888 thousands income last FY. Likewise, operating loss of bank amounts to Rs. 16.6 million. Bank has kept Rs. 7.5 million as provision while, bank has managed to right back Rs. 146.7 million provision in this period.

According to the financial report, EPS of the bank is Rs. 65.60, net worth per share is 124.96 and liquidity ratio is 25.79%. Bad debt of the bank is 81.21% while, Risky assets stands at 14.32%.