Net Profit of Kanchan Devt Bank Rs 36.6 Million

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Net Profit of Kanchan Devt Bank Rs 36.6 Million

April 29: According to the third quarter financial report of Kanchan Development Bank, the net profit of the bank has increased by 31.28 percent to Rs 36.6 million. The increase in net interest income by 30.9 percent and operating profit by 8 percent has helped to boost the net profit of the bank. After issuing 25 percent bonus share and 4:1 right shares, paid-up capital of the bank has rose by 50 percent to Rs 198 million.

In compare to paid-up capital, net profit has decreased by 21.17 percent to 18.53 percent. Similarly, reserve fund of the bank has increased by 29.67 percent and investment has decreased by 23.34 percent. The bank has collected Rs 1.7 billion deposit while it has advanced Rs 1.5 billion loans. Meanwhile, interest income and interest expenses of the bank has increased by 25.58 percent to Rs 136.3 million and 20.60 percent to Rs 67.5 million respectively. Likewise, employee expenses, other operational expenses and total operational income have increased by 27 percent, 3.81 percent and 9 percent respectively. In the meantime, fixed assets of the bank have decreased by 95.60 percent whereas other assets have increased by 2 times.

The bank has been able to recover Rs 200,000 bad debt of last FY. The bank has allocated Rs 3 million in provision for possible losses. The bank has capital adequacy ratio of 15 percent and capital fund expenditure of 5.27 percent. Similarly, the bank has CD ratio of 77 percent and inactive loan of 1 percent.

According to the third quarter financial report, earning per share of the bank is at Rs 22.68 and liquidity ratio is of 28 times.  

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