In the first quarter, the bank earned net profit of Rs 2.05 billion which is 39.97 percent growth compared to Rs 1.46 billion of the corresponding period of the last FY.
Although the bank logged decline in net interest income, reversal of impairment charge helped to boost the net profit.
During the period, its net interest income declined by 0.81 percent while its operating income increased by 36.09 percent to Rs 2.89 billion. In the review period, its impairment charge reversed by Rs 457.7 million.
In the review period, the bank logged distributable profit of Rs 4.98 billion. The bank with Rs 27.05 billion in paid-up capital collected deposit collection of Rs 479.45 billion and extended loans of Rs 381.28 billion.
Along with net profit, its EPS increased by 8.52 to Rs 29.83. The bank has net worth per share of Rs 229.48.
