Rastriya Banijya Bank reports financial highlights for the second quarter; posts net profit of almost Rs.2 Arba with paid up capital crossing Rs.9 Arba

Rastriya Banijya Bank (RBB) has reported a net profit of Rs.1.96 Arba for the second quarter end of the current fiscal year 75/76. Reporting on the basis provided by Nepal Financial Reporting Standards (NFRS), the bank has earned the said amount in 6 months of the current fiscal year.

After the acquisition of NIDC Development Bank, the paid up capital of RBB has increased to Rs.9 Arba. Till the end of the second quarter, the bank has deposits worth Rs.1.82 Kharba and has provided loans and advances worth Rs.1.34 Kharba.

The bank has made investments worth Rs.45 Arba in instruments such as Treasury Bills etc. The bank has also provided Rs.42.15 Crore as relief for earthquake to 253 people.

The government owned bank has a base rate of 6.33% and the bank’s loan repayment ratio stands at 73.62% only. The bank caters to a total of 30 Lakh customers out of which 7.50 Lakh use mobile banking service and 4.91 Lakh customers use debit cards.

With the moto of “Clean RBB, Smart RBB”, the bank has established around 20 smart branches in the current fiscal year. Moreover, the bank has stated that it will begin construction of building in 11 different places in the current fiscal year.

The bank has provincial offices in all the seven provinces of the country along with a network of 217 branches spread across 77 districts of the country. The bank plans to increase this number by 23 new branches, 25 branchless counters and 35 ATMs in the current fiscal year.