NIC Asia's Net Profit Exceeds 2.5 Bn

May 12, 2020 07:43 PM Merolagani

NIC Asia Bank (NICA) has earned a net profit of Rs 2.50 billion in the third quarter of the current FY. The net profit increased by Rs 224 million compared to Rs 2.27 billion of the corresponding period of the last FY.

In the review period, the bank earned an operating profit of Rs 3.80 billion. During the period, the bank collected deposit of Rs 188.81 billion and extended loan of Rs 175.43 billion. Similarly, it earned net interest income of Rs 5.52 billion.

The bank with paid-up capital of Rs 9.71 billion has reserve fund of Rs 6.07 billion and shareholders fund of Rs 1.64 billion. It recorded a distributable profit of Rs 407.4 million in the review period.

However, the bad debt of the bank increased to 0.76 percent from 0.48 percent. It logged EPS of Rs 34.68, net worth per share of Rs 169.31 and P/E ratio of 14.30 times.

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