Garima Bikas Bank Increases Net Profit by 50%

Apr 30, 2019 Merolagani

The net profit of Garima Bikas Bank (GBBL) has increased by 50 percent to Rs 423.7 million in the second quarter of the current FY compared to Rs 281.5 million of the corresponding period of the last FY.

In the review period, the bank raised its paid-up capital by 10 percent to Rs 2.78 billion and reserve fund by 39 percent to Rs 796 million.

During the period, the company increased its deposit collection by 62 percent to Rs 30.35 billion and loan extension by 52 percent to Rs 26.15 billion. The company earned Rs 990.9 million in net interest income in the review period.

The bank logged EPS of Rs 20.06, bad debt of 0.26 percent, net worth per share of Rs 128.58 and  P/E ratio of 9.62 times.

 

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