Net Profit of Everest Bank  Increase 16.93%

Jan 18, 2019 Merolagani

Everest Bank (EBL) has earned a net profit of Rs 1.42 billion in the second quarter of the current FY. The net profit increased by 16.93 percent compared to Rs 1.22 billion of the corresponding period of the last FY.

As per the financial report published under NFRS format, the bank has a distributable profit of Rs 1.04 billion that was Rs 976.7 million in the last FY. The bank maintained regulatory adjustment of Rs 388 million during the period.

In the review period, the bank increased its deposit collection by 20.21 percent to Rs 124.17 billion and loan extension by 23.05 percent to Rs 105.92 billion.

During the period, the bank has paid-up capital of Rs 8.10 billion and EPS of Rs 35.63. The bank maintained reserve fund of Rs 7.58 billion during the period.

In the second quarter of the current FY, the bank increased its net interest income by Rs 349.1 million to Rs 2.67 billion that was Rs 2.32 billion in the last FY.

Similarly, the bank decreased its bad debt to 0.19 percent from earlier 0.25 percent.

The bank maintained CCD ratio of 76.23 percent, base interest rate of 8.22 percent and cost of fund of 6.36 percent in the second quarter of the current FY.  

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