As per the report, increase in bad debt has raised its net loss during the period.
In the review period, the bank has incurred net loss of Rs 274.9 million which was Rs 73.8 million in the corresponding period of the last FY.
Decrease in net interest income along with increase in bad debt pulled down its net profit.
During the period, its net interest income decreased to Rs 144.5 million. Meanwhile, its bad debt increased to 18.54 percent from 10.72 percent which raised its impairment charges to Rs 284.5 million from earlier Rs 133.3 million. As a result, it incurred both operating loss and net loss.
The bank has logged LPS of Rs 43.73 and net worth per share of Rs 69.51 times.
