Which Development Bank performed better in 11 months of FY 75/76? Find out here!

Development banks are 'B' class financial institutions recognized by Nepal Rastra Bank (NRB). In the report published by NRB, provisional financial statistics of development bank for 11 months of fiscal year 2075/76 (till the month of Jestha 2076) has been provided.

DEPOSITS

Muktinath Bikas Bank Limited (MNBBL) outperforms competitors by collecting whopping Rs 43.54 billion deposits. Following Muktinath, Mahalaxmi Bikas Bank (MLBL) and Garima Bikas Bank (GBBL) collected Rs 31.37 billion and Rs 31.25 billion respectively.

LOANS AND ADVANCES

Granting more than Rs 10 billion more than Garima Bikas Bank (Rs 27.48 billion), Muktinath Bikas Bank (MNBBL) ranks top with Rs 37.60billion. Corporate Development Bank (CORBL) and Green Development Bank (GRDBL) has loan to deposit ratio of 202% and 117% respectively.

NET PROFIT

In terms of net profit, Muktinath Bikas Bank leads from the front with Rs 647.0 million. It is the only development bank to cross Rs 500 million mark. Garima Bikas Bank and Gandaki Bikas Bank (GDBL) are ranked second and third with Rs 417.2 million and Rs 329.5 million net profit respectively. Among the traded development banks, only Karnali Development Bank Limited (KRBL) is suffering from net loss (Rs 12.0 million).

EARNINGS PER SHARE

According to the report, Corporate Development Bank (CORBL) posted highest (46.63) annualized EPS followed by Muktinath Bikas Bank (MNBBL) and Miteri Development Bank (MDB) at 23.03 and 22.22 respectively.With the calculated annualized EPS and July 23^rd market price, Corporate Dev. Bank (CORBL) and Miteri Development Bank (MDB) has lowest PE ratio of 2.64 and 10.62 respectively. Note: CORBL reserve is negative.

(As many of the development banks are in the process of merger and acquisition, their trading has been halted. Such development banks' PE ratio has been excluded. Though charts and tables include such development banks, they've been excluded in the write-ups.)