The bank earned a net profit of Rs 431.1 million in the review period compared to Rs 590 million of the corresponding period of the previous FY. The net profit decreased by 26.93 percent during the period.
Although, the bank recorded increase in net interest income, increase in impairment charges, operating expenses and non-operating expenses pulled down its net profit.
In the review period, its net interest income increased by 8.65 percent while its net fee and commission income decreased by 12.92 percent. similarly, its total operating income declined by 4.55percent and operating porift by 20.05 percent.
In the review period, the bank’s non-performing loans increased to 2.98 percent from 2.31 percent which raised its impairment charges to Rs 500 million. During the period, it logged distributable profit of Rs 58 million and has distributable profit per share of Rs 1.77.
Along with its net profit, its EPS declined by Rs 5.64 to Rs 13.14. The bank logged P/E ratio of 24.88 times and net worth per share of Rs 146.46.
The bank with Rs 3.28 billion in paid-up capital reserve fund of Rs 1.52 million. The bank increased its deposit collection by 15.60 percent and loan extension by 3.66 percent.
