Nepal Bank Posts Profit of NPR 279.29 Crore in Nine Months

Nepal Bank has reported a net profit of NPR 279.29 crore for the third quarter of the current fiscal year. The bank’s non-performing loans (NPL) have decreased to 4.96 percent of total loans, down from the previous 5.45 percent. The distributable profit stands at only NPR 32.13 million, while the base rate has declined to 4.71 percent. On Chaitra 14 in Kathmandu, Nepal Bank released its financial statements for the third quarter of the ongoing fiscal year. According to the public financial disclosure, the bank earned a net profit of NPR 279.29 crore up to the end of Chaitra in the current fiscal year. During the review period, the bank’s net profit increased by 0.34 percent. The bank’s annual earnings per share (EPS) is NPR 25.34, and its net worth per share is NPR 272.79. The market trading price per share is approximately in this range as well. Although the bank’s non-performing loans have decreased, challenges remain. The share of non-performing loans in total loans is 4.96 percent, down from the previous 5.45 percent. With a paid-up capital of NPR 1.469 billion, the bank’s reserve fund has accumulated NPR 2.539 billion. However, the bank’s capacity to distribute dividends remains weak, with distributable profit amounting to only NPR 32.13 million, equivalent to NPR 2.92 per share. Meanwhile, the bank’s base rate has fallen to 4.71 percent.