Net profit of Arniko Development Bank boosted by 59% in first quarter

Kathmandu November 10- With the paid up capital of Rs 234.3 million paid up capitals, net profit of Arniko Development Bank has increased by 58.87% to Rs. 3.5 million which was Rs. 2.2 million in the corresponding quarter of last FY.

Deposit collection of the bank has increased by 60.50% to Rs. 1 billion 796.8 million from Rs. 1 billion 119.5 million last year. Loan and advance of the bank has increased by 26.13% to Rs 2 billion 190.9 million which was Rs 1 billion 513.6 million last years. Similarly, net interest income of bank has increased by 7.22% to Rs. 13.5 million which was Rs 14.5 million last year. Operating profit of the bank is in negative balance of 2.6 million which was in positive balance of Rs. 2.6 million last year.

According to the first quarter financial statement, EPS of the bank (annual) is Rs. 6.14, P/E ratio (annual) is 32.25 times and net worth per share is Rs. 131.42 and liquidity ratio is 44.49. Bad debt of the bank is 1.74% and risky assets are 17.73%. Arniko bank has distributed 10.53% bonus share from the net profit of last quarter of FY 2071/72.