Garima Bikas Bank Increases Net Profit by 43%

Aug 12, 2021 08:43 AM Merolagani

Garima Bikas Bank (GBBL) has published its fourth quarter report of the last FY. As per the report, it has improved all major financial indicators during the period.

During the period, the bank earned a net profit of Rs 825.2 million. The net profit increased by 42.96 percent compared to the corresponding period of the previous FY.

An increase in net interest income, other profit helped to increase its net profit during the period.

The bank maintained a distributable profit of Rs 1.09 billion during the period.

In the review period, its net interest income increased by 19.37 percent and operating profit increased by Rs 43.84 percent. Similarly, its total operating income increased by 38.37 percent and net fee commission income by 37.71 percent.

The bank that increased its paid-up capital through the distribution of 13.50 percent dividend has reserve fund of Rs 46.03 percent. During the period, its deposits increased by 50.60 percent and loan extensions by 48.60 percent.

Along with its net profit its EPS also increased by Rs 4.63 to Rs 22.45. Similarly, it logged P/E ratio of 24.23 times and net worth per share of Rs 144.01.

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