Muktinath Bikas Bank Improves Major Indicators

Jan 21, 2021 10:00 AM Merolagani

Muktinath Bikas Bank (MNBBL) has improved major financial indicators in the second quarter of the current FY.

The bank earned a net profit of Rs 615.5 million in the review period compared to Rs 472.5 million of the corresponding period of the last FY. The net profit increased by 30.28 percent during the period.

Although the bank managed to log plain growth in net interest income, notable increase in other operating income pulled its net profit up by 30 percent. The bank records distributable profit of Rs 525.5 million during the period.

In the review period, the bank increased its net interest income by 5.8 percent to Rs 1.16 billion while it’s operating profit increased by 28.19 percent to Rs 865.2 million.

Interestingly, its other operating income increased to Rs 311.4 million from Rs 13 million which contributed to the increase in the net profit.

Along with the net profit, the earning per share (EPS) of the bank has also increased to Rs 25.59 from Rs 21.85. The bank logged P/E ratio of 14.73 times and net worth per share of Rs 130.46.

The bank with Rs 4.81 billion in paid-up capital has reserve fund of Rs 933 million and retained earnings of Rs 532.6 million.

Similarly, the bank increased its deposit collection by 30.64 percent to Rs 74.87 billion and loan extension by 22.27 percent to 58.27 billion.

The bank has a non-performing loan of 0.30 percent, a base rate of 8.38 percent and a spread rate of 4.99 percent.

 

comments powered by Disqus

Nepal Reinsurance Company Invests Rs 17 Billion; 76% in FD of Commercial Banks

Mar 07, 2021 03:38 PM

Nepal Reinsurance Company (NRIC) has invested Rs 17.19 billion in various sectors as per the data provided by Insurance Board (IB).

Support Laghubitta Calls Out AGM

Mar 07, 2021 01:06 PM