Miteri Development Bank logs Plain Growth

May 04, 2020 11:59 AM Merolagani

Miteri Development Bank has earned a net profit of Rs 120.8 million in the third quarter of the current FY. The net profit increased by Rs 16.1 million compared to the corresponding period of the last FY.

The bank logged a net profit of Rs 37.3 million in the three months of the third quarter compared to Rs 37.7 million of the corresponding period of the last FY.

In the review period, the net fee and commission income of the bank has also decreased; however, an increase in net interest income and operating profit pulled its net profit towards growth.

The bank has earned a net interest income of Rs 203.8 million and operating profit of Rs 172.5 million in the review period.

The bank with Rs 693.3 million in paid-up capital has reserve fund of Rs 200.9 million and retained earnings of Rs 62.2 million.

The bank that has Rs 61.4 million in distributable profit has EPS of Rs 23.23, P/E ratio of 14.29 times and net worth per share of Rs 137.96.

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