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Mega Bank Nepal reported a 131.33% rise in net profit in the third quarter of FY 2075/76

Gyanmandu:
Mega Bank Nepal has published third quarter report of FY 2075/76 based on Nepal financial reporting standard (NFRS). It has reported increase in net profit by 131.33% in the comparing period. It has reported net profit of Rs.1.21 arba in Q3 which was Rs.52.49 crore in the same period of last fiscal year. 

The bank has collected deposit Rs. 75.21 arba in Q3 of FY 2075/76 from Rs.63.49 arba in Q3 of last Fiscal year. Deposit increased by 18.45%. It had extended Rs.67.58 arba in loan and advances which was Rs.55.52 arba in same period of last fiscal year. Loan extension increased by 21.71%.  It has made net interest income of Rs. 2.75 arba in Q3 from Rs.1.30 arba in Q3 of last fiscal year 2074/75. Major income of BFIs, Net interested income increased by 111.60%. The bank’s paid up capital stands at Rs 10.38 arba with Rs 2.72 arba as its reserve. The Non-Performing Loan (NPL) stands at 1.42% from 0.98% in the last year.

The bank has made expanses of Rs.78.20 crore for staff salary which was Rs. 37.79 crore in Q3 of last year. Other operating expanse stands at Rs.40.34 crore in Q3. It has posted operating profit of Rs.1.70 arba from Rs.73.92 crore in the corresponding quarter of last year. Grown by 130.73%. In the third quarter, the annualized EPS of the bank stands at Rs 15.58. The net worth per share stands at Rs 126.20 and qtr end PE ratio stands at 10.84 times.

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