Machhapuchchhre Bank reports profit rise of 520 % in Q2

Kathmandu, Feb 5 – Machhapuchchhre Bank Limited has reported a massive rise in profit in the second quarter of the current fiscal year 2070/71.

Publishing the unaudited quarterly report for the second quarter today, the commercial bank has stated that it has posted a profit rise of 520 percent in the second quarter as its net profit rose to Rs 20.40 crore, up from merely Rs 3.29 crore in the corresponding quarter last fiscal year.

Machhapuchchhre has managed to post the impressive growth despite provisioning Rs 6.47 crore for possible losses.

Machhapuchchhre’s net interest income has surged to Rs 48.99 crore, up from Rs 37.31 crore in the second quarter of the last fiscal year.

Similarly, the bank also mobilized Rs 31.11 arba in deposit and Rs 25.27 arba in loan as compared to Rs 22.55 arba in deposit and Rs 18.61 arba in loan in the corresponding quarter of the last fiscal.

Its EPS has surged to Rs 16.46 from just Rs 1.33 in the corresponding quarter, and its net worth per share has also risen to Rs 125.74, up from Rs 108.16.

 

Source: Sharesansar