Net profit of NB Bank boosted by 3 times in first quarter

Kathmandu November 10- With the paid up capital of Rs3 billion 39.2 million paid up capital, net profit of Nepal Bangladesh Bank has increased by 3 times  to Rs. 124.8 million which was Rs. 46.6 million in the corresponding quarter of last FY.

Reserve of bank has decreased by 14.62% to Rs. 1 billion 947.9 million from Rs. 1 billion 725.5 million of last FY. Deposit collection of the bank has increased by 28.56% to Rs. 34 billion 664.9 million from Rs. 26 billion 363.1 million last year. Loan and advance of the bank has increased by 28.03% to Rs. 26 billion 975.8 million which was Rs21 billion 69.5 million last year. Similarly, net interest income of bank has increased by 25.21% to Rs. 196.4 million which was Rs. 156.9 million last year. Interest income of the bank has increased by 27.06% to Rs. 598.7 million and interest expense has increased by 30.94% to Rs. 402.3 million. Similarly, operating profit of the bank has increased by 2 times to Rs. 148.3 million from Rs. 50.5 million last year. Bank has kept Rs. 41.4 million in provision and has been able to recover Rs. 32.1 million bad debts.

According to the first quarter financial statement, EPS of the bank (annual) is Rs. 16, P/E ratio (annual) is 36 times and net worth per share is Rs. 165. Bad debt of the bank is 1.26% and risky assets are 10.84%. NB Bank has distributed 25% bonus share and 1.32% cash dividend from the net profit of last quarter of FY 2071/72.