Garima Bikas Bank Limited has reported almost a double profit in the first quarter of the current fiscal year 2070/71 as compared to the corresponding quarter last year while Muktinath Bikas Bank Limited has posted an impressive net interest income, though it could register only slight profit.
Both the development banks which are faring well have published their unaudited reports for the current fiscal year, today.
Garima’s net profit has surged by 82.98 percent to Rs 1.32 crore from Rs 72 lakh in the corresponding quarter last year, mainly propelled by core business.
It made an impressive net interest income of Rs 3.68 crore, up from Rs 1.99 crore in the first quarter of the last fiscal year.
Garima also mobilized Rs 3.27 arba in deposit and Rs 2.72 arba in loan in the first quarter.
It had mobilized only Rs 2.27 arba in deposit and Rs 1.83 arba in loan in the corresponding quarter last year.
Another good aspect of Garima’s quarterly report is that its non-performing loan remains at nominal 0.01 percent.
Garima’s per share net worth stands at Rs 127.58, and EPS (annualized) at Rs 22.02.
As far as Muktinath is concerned, it posted a net profit of Rs 2.47 crore in the first quarter, up from Rs 2.21 crore in the corresponding quarter — an 11.78 percent growth.
The growth was largely limited due to overhead expenses.
Nonetheless, its core business is robust as it registered a net interest income of Rs 6.27 crore in the first quarter, up from Rs 4.59 crore in the corresponding quarter.
It mobilized Rs 3.96 arba in deposit and Rs 3.39 in loan in the first quarter though it had mobilized only Rs 2.89 arba in deposit and Rs 2.39 arba in loan in the corresponding quarter.
Its non-performing loan stands at static at 0.68 percent.
Muktinath’s per share net worth stands at Rs 181.74, and its EPS (annualized) at Rs 40.23.
GARIMA NOTICE
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