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

Kathmandu November 10- With the paid up capital of Rs 1 billion 110.2 million paid up capitals, net profit of Kailash Development Bank has increased by 13.57% to Rs. 51.9 million which was Rs. 45.7 million in the corresponding quarter of last FY.

Deposit collection of the bank has increased by 23.60% to Rs. 9 billion 662.7 million from Rs. 7 billion 818 million last year. Loan and advance of the bank has increased by 21.13% to Rs. 7billion 895.9 million which was Rs 6 billion 518.5 million last years. Similarly, net interest income of bank has increased by 5.07% to Rs. 98 million which was Rs93.3 million last year. Operating profit of the bank has increased by 7.56% to Rs. 40 million from Rs. 37.2 million last year.

According to the first quarter financial statement, EPS of the bank (annual) is Rs. 18.71, P/E ratio (annual) is 17.90 times and net worth per share is Rs. 129.38 and liquidity ratio is 30.53. Bad debt of the bank is 1.90% and risky assets are 15.39%. Kailash bank has distributed 24% bonus share from the net profit of last quarter of FY 2071/72.