Green Development Bank increases net profit by 490.4%

Feb 06, 2019 Merolagani

The net profit of Green Development Bank (GRDBL) has increased by 490.40 percent to Rs 8.6 million in the second quarter of the current FY compared to Rs 1.4 million of the corresponding period of the last FY.

In the review period, the EPS of the bank increased to Rs 3.44 compared to Rs 2.92 of the last FY. Meanwhile, the bank raised its paid-up capital to Rs 105 million and maintained Rs 15.3 million in reserve fund.

During the period, the deposit collection of the bank declined by 2.32 percent to Rs 580.5 million compared to Rs 594.2 million of the last FY. However, its loan extension increased by 74.39 percent to Rs 780.9 million from earlier Rs 447.8 million.

Similarly, the bank increased its net interest income by 180.8 percent to Rs 27 million. The bank has bad debt of 2.30 percent, net worth per share of 103.07 and P/E ratio of 31.07 times.

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