In the review period, the bank earned a net profit of Rs 851.5 million which is growth of 162.75 percent compared to Rs 324 million in the corresponding period of the last FY.
Improvement in core business income coupled with effective cost and risk management has played a major role in bringing this historic jump in profitability.
In the review period, the bank's net interest income increased from Rs 2.16 billion to Rs 2.38 billion, while the net fee and commission income increased from Rs 514.4 million to Rs 570.7 million. The operating profit of the bank reached Rs 1.25 billion, which shows that the core business of the bank is very strong.
During the period, the distributable profit increased from Rs 1.61 billion last year to Rs 3.57 billion this year, indicating that the shareholders have a high and secure ability to deliver attractive dividends in the years to come.
The bank has a paid-up capital of Rs 19.77 billion and reserve fund and accumulated profit is strong.
During the review period, the bank's earnings per share increased to Rs 18.76, net worth per share stood at Rs 199.61 and capital fund ratio at 12.29 percent.
