Share MarketNepal Bank's net profit increased by 4.93%

Nepal Bank’s net profit increased by 4.93%

Nepal Bank Limited has published its unaudited financial statements up to the second quarter of the current Fiscal Year. According to the statement, the bank’s operating profit has decreased compared to the same period of the previous fiscal year, but net profit has increased.

The bank has earned a net profit of Rs 1 arba 41 crore 70 lakh in the second quarter of the current fiscal year. This is 4.93 percent more than the corresponding period of the previous fiscal year. The bank had earned a net profit of Rs 1 arba 35 crore 4 lakh in the corresponding period of the previous fiscal year.

Despite the decline in operating profit, the net profit of the bank has increased after the deferred tax refund of Rs 13 crore 24 lakh.

Both the bank’s deposit mobilization and credit investment have improved. Reserve fund also increased by 6.43% to more than Rs 17 arba 46 crore. The bank’s paid up capital has increased by 14%. The bank’s earnings per share also declined by Rs 1.70 to Rs 19.67.

As of mid-January, the bank’s price-to-earnings ratio stood at 19.37 times and its net worth per share stood at Rs 238.12.

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