As per the report, the bank’s net profit has declined in the review period compared to the corresponding period of the last FY.
The bank has earned net profit of Rs 479.1 million in the review period. The net profit declined by 23.62 percent compared Rs 627.3 million of the corresponding period of the last FY.
Although the bank increased its net interest income, increase in non-performing loans due to which increase in impairment charges pulled down its net profit.
In the review period, its net interest income increased by 6.46 percent and total operating income by 1.06 percent.
Similarly, its NPL increased to 2.35 percent from previous 0.36 percent inflating its impairment charges to Rs 296.8 million.
The bank has distributable profit of Rs 946.4 million and distributable profit per unit of Rs 8.07.
The bank-maintained EPS of Rs 18.94, P/E ratio of 16 times and net worth per share of Rs 182.69.
The bank with paid-up capital of Rs 10.12 billion has reserve fund of Rs 8.36 billion. Its deposit increased by 6.54 percent and loan extension increased by 2.11 percent in the review period.
