Net Profit of Nepal Grameen Decreases

Feb 12, 2018 Merolagani

The excessive increase in interest expenses of Nepal Grameen Bikas Bank (NGBBL) has resulted in decrease in its net profit in the second quarter of the current FY. In compare to the corresponding period of the last FY, the interest expenses and net interest increased by 86.75 percent and 45.68 percent respectively.

 

 In the review period, the interest expenses of the company increased by Rs 144.9 million to Rs 312 million. Similarly, the interest income of the company increased to Rs 715.5 million from earlier Rs 667.8 million.

Likewise, the net profit of the company contracted to Rs 97.9 million which is Rs 82.3 million less than the net profit of the review period of the last FY. In the review period, the employees' expenses have increased to Rs 269.5 million from Rs 230 million.

During the period, the company collected deposit of Rs 2.48 billion and extended loans of Rs 8.13 billion. The company raised its paid-up capital to Rs 655 million from Rs 557.5 million through FPO in the review period. The company increased its reserve fund to Rs 238.1 million.

During the period, the company has bad debt of 4.49 percent, cost of fund of 8.84 percent, EPS of Rs 29.90 and net worth per share of Rs 136.36.


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