Technical Analysis of Yeti Development Bank, NIDC Development Bank and Society Development Bank

Kathmandu November 20- Yeti Development Bank managed to earn Rs. 13.2 million net profit in the first quarter of current FY. Yeti Development was in Rs. 76.7 million losses in corresponding period of last year.

Deposit of bank has increased by 19.43% to Rs. 8 billion 472.7 million which was Rs. 7 billion 94.6 million last year. Lending of the bank has also increased by 6.93% to Rs 6 billion 344.1 million from Rs. 5 billion 933.2 million last year. Similarly, net interest income has increased by 94.20% to Rs. 54.2 million which was Rs. 27.9 million last year.  Interest income and interest expenses have increased by 19.4% and 3.94% respectively. Operating loss of the bank amounted to Rs. 41.5 million from 80 million last year. Bank has balance of Rs. 600 thousands in provision and Rs. 60 million worth of bad debts has been recovered.

Bad debt has decreased by 8.65% to 8.02% and Risky assets has increased by 0.28% to 12.06% . According to the first quarter financial report, EPS of the bank is Rs. 3.82, P/E ratio is 36.69 times, net worth per share is Rs. 79.49 and liquidity ratio is 14.76 times.

Similarly, NIDC Development Bank's net profit decreased by 75.58% to Rs. 40.8 million in the first quarter of current FY. Yeti Development earned Rs. 168.7 million net profit in corresponding period of last year.

Deposit of bank has increased by 4.56% to Rs. 1 billion 418.9 million which was Rs. 1 billion 357 million last year. Lending of the bank has also increased by 24.64% to Rs 1 billion 971.9 million from Rs. 1 billion 582.1 million last year. Similarly, net interest income has increased by 61.09% to Rs. 41.8 million which was Rs. 107.4 million last year.  Interest income and interest expenses have decreased by 52.24% and 18.53% respectively. Operating profit of the bank decreased by 75% to Rs.21.1 million from 80 million last year. Bank has balance of Rs. 2 million in provision and Rs. 20 million worth of bad debts has been recovered.

Similarly, bad debt has decreased by 9.1% to 14.82% and Risky assets have increased by 15.38% to 88.97%. According to the first quarter financial report, EPS of the bank is Rs. 39.32, P/E ratio is 3.82 times, net worth per share is Rs. 745.82 and liquidity ratio is 2.46 times.

Likewise, Net profit of Society Development Bank increased by 8 times to Rs. 62.4 million in the first quarter of current FY from Rs. 7.3 million in corresponding period of last year.

Deposit of bank has increased by 23.99% to Rs. 6 billion 33.7 million which was Rs. 4 billion 866.2 million last year. Lending of the bank has also increased by 20.96% to Rs 4 billion 969.2 million from Rs4 billion 108 million last year. Similarly, net interest income has increased by 15.63% to Rs. 58.6 million which was Rs50.6 million last year.  Interest income and interest expenses have increased by 6.30% and 0.94% respectively. Operating profit of the bank increased by 32% to Rs15.2 million from 11.5 million last year. Bank was able to recovered Rs 46.9 million worth of bad debts.

Similarly, bad debt has decreased by 2.58% to 3.63% and Risky assets has increased by 1.49% to 12.93% . According to the first quarter financial report, EPS of the bank is Rs. 27.80, P/E ratio is 4.89 times, net worth per share is Rs. 96.02 and liquidity ratio is 30.40 times.