The bank earned a net profit of Rs 117.8 million during the period. The net profit increased by 287.60 percent compared to Rs 30.4 million of the corresponding period of the previous FY.
Although the bank logged a decline in net profit, decreased non-performing loans along with reversed impairment charges helped to pull up the net profit.
During the period, its net interest income declined by 30.14 percent and net fee and commission income by 34.53 percent. Similarly, its total operating income declined by 30.49 percent and operating profit by 417.39 percent. During the period, its NPL declined to 6.03 percent from previously 10.63 percent. As a result, its impairment charges reversed by 179 million.
Along with net profit, its EPS increased by 16.69 to Rs 21.05. The bank logged P/E ratio of 40.99 times and net worth per share of Rs 86.70.
The bank with Rs 557.4 million has reserve loss of Rs 74.1 million. During the period, its deposit declined by 3.58 percent and loan extension declined by 9.34 percent.
