In the review period, the bank incurred net loss of Rs 15.4 million. In the review period of the corresponding period of the last FY, the company earned net profit of Rs 48.7 million.
Although the bank increased its net interest income slightly, increase in impairment charges can be attributed to the occurrence of net loss during the period.
In the review period, the bank raised its net interest income to Rs 58.8 million from Rs 56.6 million. Similarly, its net fee and commission income increased to Rs 8.6 million and total operating income to Rs 69.9 million. However, maintaining of impairment charges of Rs 1.7 million drove the bank toward loss during period.
The bank logged LPS of Rs 5.50, net worth per share of Rs 94.19 and distributable loss of Rs 228.5 million.
The bank with Rs 557.4 million in paid-up capital has reserve loss of Rs 32.3 million. In the review period, the bank collected deposits of Rs 5.66 billion and extended loans of Rs 3.25 billion.
