National Co-operative Bank Increases Profit

Jul 26, 2021 09:31 AM Merolagani

National Co-operative Bank has earned a net profit of Rs 1.66 billion in the fourth quarter of the last FY compared to Rs 682.8 million of the corresponding period of the last FY.

The net profit increased by Rs 323.7 million in the review period.

The net profit of the bank increased due to increased net interest income and operating profit as well as controlling its expenses.

The bank with Rs 2.87 billion in paid-up capital has a reserve fund of Rs 1.52 billion. In the review period, the bank collected deposits of Rs 66.34 billion and extended loans of Rs 35.24 billion.

During the period, the company earned Rs 1.74 billion in net interest income and Rs 665 million in operating profit.

In the review period, the bank logged a non-performing loan of 1.39 percent.

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