Muktinath Bikas Bank reports rise of 20% in its net profit; EPS and Net worth stand at Rs 22 and Rs 131.05 respectively

Muktinath Bikas Bank Limited (MNBBL) has posted profit growth of 20.40 percent in the third quarter (Q3) of the current fiscal year 2074/75.

Publishing the unaudited financial report for the third quarter today, the development bank stated that its net profit rose to Rs 42.75 crore in the current fiscal year 2074/75, up from Rs 35.51 crore in the corresponding period of the previous fiscal year 2073/74.

Its net interest income has risen from Rs 73.10 crore in corresponding quarter to Rs 88.28 crore in the current quarter. Muktinath Bikas Bank’s paid up capital remains at Rs 2.59 arba with reserve of Rs 80.46 crore in Q3. The development bank has collected deposits of Rs 24.54 arba in the third quarter, up from Rs 15.14 arba in the corresponding quarter.

Likewise, it has extended loans and advances of Rs 21.99 arba in Q3 whereas in the same period last year the figure stood at Rs 14.17 arba. Its non-performing loan (NPL) has dropped to 0.01% in Q3 from 0.1% in the previous year report.

MNBBL’s annualized earning per share (EPS) stands at Rs 22, net worth per share at Rs 131.05 and the P/E ratio at 18 times.