The decline in profit can be attributed to increased cost of fund and employee expenses. The employee expenses and cost of fund of the bank increased by 50 percent and 1.81 percent respectively in this quarter compared to the corresponding period of the last FY. Similarly, its non-operating income also decreased by Rs 5.7 million.
As per the financial report published under NFRS format, the shareholders fund has increased by 23.35 percent. The retained earning of the bank that was Rs 1.80 billion in the review period of the last FY has reached Rs 2.22 billion. The bank has Rs 4.16 billion in reserve fund and Rs 122 million in share premium.
During the review period, the bank maintained Rs 189.8 million in distributable profit after adjusting its fund to various regulatory provisions.
The bank with Rs 8.88 billion in paid-up capital has EPS of Rs 23.47. The bank collected deposit of Rs 118.40 billion and extended loan of Rs 108.68 billion during the period. In the review period, the bank earned Rs 1.43 billion in net interest income and operating profit of Rs 744.7 million.
During the period, the bank logged non-performing loan of 1.28 percent, base interest rate of 10.02 percent, cost of fund of 7.32, net worth per share of Rs 173.27, CD ratio of 77.36 percent, capital fund ratio of 14.23 and P/E ratio of 12.53 times.
