Agriculture Development Bank increased Net Profit by 17%

Jan 20, 2020 11:46 AM Merolagani

Agriculture Development Bank (ADBL) has increased its net profit by improving its bad debt in the second quarter of the current FY. The bank decreased its bad debt by 0.83 percent during the period compared to the corresponding period of the last FY.

The bank that recorded a bad debt of 3.59 percent in the review period of the last FY logged 4.42 percent bad debt in the review period of current FY. The bank has 4.23 billion in the bad debt.

The decreased bad debt boosted net profit of the bank. The bank increased its net profit before tax by 16.99 percent to Rs 2.03 billion from Rs 1.74 billion of the corresponding period of the last FY.

In the review period, the bank collected deposit of Rs 127 billion and extended loan of Rs 117 billion. In the review period of the last FY, the bank collected deposit of Rs 110 billion and extended loan of Rs 106 billion.

Similarly, the bank logged an increase of Rs 5 in EPS. The EPS increased to Rs 28.37 from earlier Rs 23.55 in the review period.


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