Net profit of Global IME Bank boosted by 41% in first quarter

Kathmandu November 10- With the paid up capital of Rs. 6 billion 164.2 million paid up capital, net profit of Global IME  Bank has increased by 40.74% to Rs. 313.5 million which was Rs. 222.7 million in the corresponding quarter of last FY.

Reserve of bank has decreased by 6.43% to Rs. 1 billion 472.7 million from Rs. 1 billion 574 million of last FY. Deposit collection of the bank has increased by 17.07% to Rs. 63 billion 93.5 million from Rs. 53 billion 894.7 million last year. Loan and advance of the bank has increased by 14.42% to Rs. 52 billion 101.6  million which was Rs45 billion 534.7 million last year. Similarly, net interest income of bank has increased by 4.4% to Rs. 586.7 million which was Rs. 596 million last year. Interest income of the bank has increased by 1.43% to Rs. 1 billion 174.6 million and interest expense has decreased by 0.36% to Rs. 586.7 million. Similarly, operating profit of the bank has increased by 31.89% to Rs. 438.43 million from 330.5 million last year. Bank has kept Rs. 41.8 million in provision and has been able to recover Rs. 45.4 million bad debt.

According to the first quarter financial statement, EPS of the bank (annual) is Rs. 20.35, P/E ratio (annual) is 25.55 times and net worth per share is Rs. 123.89. Bad debt of the bank is 1.98%  and risky assets is 12.79%. Global IME Bank has distributed 23% bonus share from the net profit of last quarter of the fiscal year2071/72.