Kathmandu, November 3: The profit of Nepal Investment Mega Bank has increased by 33.46 percent. In the first quarter of the previous financial year, the bank earned a net profit of Rs. 1.145 billion; this year, it managed to earn a profit of Rs. 1.522 billion, 200 thousand rupees as net profit.
Net interest income and operating profit of the bank increased at a high rate during the review period. By the end of October, the bank’s net interest income increased by 95.40 percent and reached 4 billion 161 million 41 thousand rupees.
During the review period, the bank’s operating profit also increased by 59.90 percent and reached 2.6 billion 54 lakh rupees, according to the report. However, the distributable profit of the bank is negative at Rs 853 million two hundred thousand rupees.
With a total paid-up capital of 34 billion 128 million five hundred thousand rupees, the reserve fund of the bank is 25 billion 893 million eight hundred thousand rupees.
During the review period, the bank’s deposit collection increased by 1.91 percent and reached 3 trillion 61 billion 197 million seven hundred thousand rupees, while loan investment increased by 0.19 percent to 3 trillion 424 million four hundred thousand rupees, the bank said. The bank’s bad loan ratio increased by 3.26 percent to 4.83 percent.
People’s News Monitoring Service
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