The bank has earned a net profit of Rs 150.4 million in the review period of the last FY. This is an increase of 86.18 percent compared to Rs 80.8 million in the corresponding period of the previous FY.
The bank's net interest income decreased to Rs 233.4 million from Rs 234.5 million in the previous FY. Similarly, the bank's operating profit increased from Rs 106.8 million to Rs 247.9 million.
The bank has been able to bring its NPL from 10.65 percent to 6.15 percent and improved its capital fund ratio from 8.29 percent to 11.29 percent. It shows that the bank has been able to manage risk and improve its journey towards financial recovery.
Despite the improvement in profit, the bank is still not in a position to distribute dividends due to accumulated losses in the past. In the previous FY, the reserve fund was negative by Rs 624 million which was reduced to Rs 558.8 million due to profit in the last FY.
The bank's paid-up capital has reached Rs 834.3 million and reserve fund has increased to Rs 448 million. In the review period, the total deposit of the bank increased from Rs 5.33 billion to Rs 8.88 billion. Similarly, loans to customers increased from Rs 5.03 billion to Rs 5.56 billion. The total assets of the bank increased from Rs 8.50 billion to Rs 10.11 billion.
