Net Profit of Garima Bikas Bank Exceeds Rs 1Bn

Aug 05, 2022 09:56 AM Merolagani

Garima Bikas Bank (GBBL) has published its fourth quarter report of the last FY. As per the report, the net profit of the bank has exceeded Rs one billion during the period.

The bank earned net profit of Rs 1.05 billion which is 26.35 percent growth compared to Rs 836.3 million of the corresponding period of the last FY.

Increase in net interest income and operating profit can be attributed to the increase in net profit. The bank logged distributable profit of Rs 750 million in the review period.

During the period, the net interest income increased by 31.67 percent and net fee and commission income by 9.50 percent. Similarly, its total operating income increased by 15.44 percent and operating profit by 25.68 percent.

The bank’s paid-up capital increased by 24.59 and reserve fund by 22.06 percent during the period. In the review period, the bank increased deposit collection by 7.05 percent and loans by 12.84 percent.

The bank has logged EPS of Rs 23.07, P/E ratio of 16.78 times and net worth per share of Rs 144.57.

 

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