Net profit of Prime Bank Ltd increases by 36.48%

Kathmandu November 17- Net profit of Prime Bank has increased by 36.48% to Rs.  220.5 million in the first quarter of current fiscal year which was Rs. 161.6 million in the corresponding quarter of last FY.

Collection of deposit has increased by 20.59 % to Rs. 41 billion 402.7 million from Rs 34  billion 332.4 million last FY. Loan investment has increased by 15.92% to Rs32 billion 826.3 million from Rs. 28 billion 317.8 million last FY. In the first quarter of current fiscal year, net interest income has decreased by 7.04% to Rs. 307.3 million.

Similarly, operating profit has increased by 52% to Rs. 314.2 million from Rs 206.2 million last year. Provision of Rs. 14.1 million has kept in the balance and bad debt of Rs. 32.3 million has been recovered due to which net profit has been boosted.

According to the financial report of first quarter, EPS of the bank (annual) is Rs. 28.1, P/E ratio (annual) is 21.32 times and net worth per share is Rs. 146.87.  Liquidity ratio of the bank is of 30.49%. Likewise bad debt of the bank is 1.72% and risky assets stands at 12.35%.