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Agricultural Dev. Bank reported a 23.09% rise in net profit in the third quarter of FY 2075/76

Gyanmandu:
Agricultural Development Bank has published third quarter report of FY 2075/76 based on Nepal financial reporting standard (NFRS). It has reported increase in net profit by 23.09% in the comparing period. It has reported net profit of Rs.2.21 arba in Q3 which was Rs.1.79 arba in the same period of last fiscal year which is an increment of 23.09%.

The bank has collected deposit Rs. 1.12 kharba in Q3 of FY 2075/76 from Rs.1.04 kharba in Q3 of last Fiscal year. It had extended Rs.1.09 kharba in loan and advances which was Rs.1.00 kharba in same period of last fiscal year. The company's Non-Performing loan has decreased from 5.98% in Q3 of last fiscal year to 4.22% of the current fiscal year. It has made net interest income of Rs. 5.30 arba in Q3 from Rs.4.41 arba in Q3 of last fiscal year 2074/75. The bank has made expanses of Rs.2.34 arba for staff salary which was Rs. 2.53 arba in Q3 of last year. Other operating expanse of 57.93 crore. It has posted operating profit of Rs.2.76 arba from Rs.2.26 arba in the corresponding quarter of last year. The operating profit has also increased by 22.08%. The Bank's Paid up capital stands at Rs.14.44 arba while Reserve has increased to Rs.9.86 arba. and Rs 5.43 arba from irredeemable preference share. It's non performing loan increased to 4.22% from 5.98% in the last year.


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