ADBL expected to give around 30% dividend

Kathmadnu, Jan 9 – Agricultural Development Bank Limited (ADBL), is expected to give around 30 percent dividend to the shareholders from the net profit it posted in the last fiscal year 2069/70.

 

Shareholders are expecting better dividend for the current fiscal year as ADBL has been much better this year. The bank reported a net profit rise of 6.37 percent, publicizing its unaudited first quarter report in November.

 

It has posted a net profit of Rs 23.70 crore in the first quarter compared to Rs 22.28 crore in the corresponding quarter last year.

 

Though the bank’s net interest income has increased from Rs 93.82 crore in the corresponding quarter to Rs 1.05 arba in the first quarter, its operational profit has dipped Rs 9.97 crore , down from Rs 11.39 crore.

 

The bank has set aside Rs 48.04 crore as a provision for possible losses. However, its non performing loan has marginally decreased from 5.88 percent to 5.57 percent. The EPS (annualized, ordinary shares only) of the state-run bank stands at Rs 17.56 and net worth per share at Rs 286.