Ekata Development Bank earns profit of Rs. 12.8 million in first quarter

Kathmandu October 29- Ekata Development bank has succeeded to earn net profit of Rs. 12 million 800 thousands in first quarter of running FY 2072/73 which is 80.07% growth than previous year. Bank had earned Rs. 7.1 million during the same period of last FY.

Reserve of the bank has also taken height to Rs. 69.5 million from 16.1 million of last FY. Deposit collected by the bank has increased by 60.73% to Rs. 2 billion 423.1 million from 1 billion 507.5 million of last FY. Likewise bank's lending has increased by 39.89% to Rs. 1 billion 873.7 million from 1 billion 339.4million of last FY. Net Interest income of Bank has boosted by 52.67% to Rs. 26.8 million from 17.5 million of last FY. Interest income and interest expenses of the bank have risen by 48.28% and 45.49% respectively.

Similarly, operating profit of the bank has increase by 80.93% to Rs. 20.2 million which was Rs. 11.1 million in last FY.  Bank's provision stands at Rs. 2.8 million.

EPS of the bank is 28.79% and P/E ratio is 13.50 times. Networth per share is at Rs 134.78 and liquidity ratio is 34.22%. Meanwhile, risky asset has increased by 1.43% to 13.08% whereas bad debt has increased by 0.09% to 0.21%.