National Microfinance earns Rs. 8.3 million profits

Kathmandu November 4- National Microfinance Bittiya Sanstha Ltd. has succeeded to earn 8.3 million profits in first quarter of current FY. National Microfinance was in loss of Rs. 1 million in the same period of last FY.

Microfinance has Rs. 70 million paid up capital. It has Rs. 17.9 million balances in reserve fund. Deposit of Microfinance has increased significantly since last year to Rs. 39.5 million which was Rs. 500 thousands last FY. Lending has also increased to Rs. 584.4 million from Rs. 34.1 million last year.

Increment in operating profit and net interest income has led to increase in net profit of the company. Net interest income has increased to Rs. 16.4 million from Rs. 1 million of last year. Interest income of company has increased to Rs. 23.1 million and interest expenses has increased to Rs. 6.7 million. Similarly, operating profit has increased to Rs. 13 million from loss of Rs. 1 million last year. Company has kept Rs. 2.1 million in its provision.

In the first quarter of current FY, EPS of bank is Rs. 11.88, risky assets is 15.23% and bad debt is 0%.