Similarly, the distributable profit of the bank also decreased by 61.14 percent to Rs 1.39 billion in the review period compared to Rs 3.57 billion of the previous FY.
The decrease in net profit is attributed to increase in non-performing loan due to which the bank required to increase its provision for possible losses.
In the review period, the non-performing loan ratio of the bank raised by 104.4 percent to 2.78 percent from earlier 1.36 percent. Due to which, the bank maintained Rs 1.5 billion in provision in possible losses, a growth of 122.5 percent, compared to Rs 675.2 million of the review period of the previous FY.
The bank with Rs 12.86 billion in paid-up capital has reserve fund of Rs 10.95 billion.
During the period, the bank increased its deposit collection by 9.37 percent to Rs 149.39 billion and loan extension by 3.95 percent to Rs 123 billion. The bank earned net interest income of Rs 6.15 billion in the review period.
The bank has EPS of Rs 26.54, net worth per share of Rs 199.78 and P/E ratio of 19.56 times.
