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NCC Bank reported a 31.08% rise in net profit in the third quarter of FY 2075/76

Gyanmandu:

Nepal Credit and Commerce Bank Limited (NCCB) has reported a 31.08% rise in net profit in the third quarter of FY 2075/76. 

It has reported net profit of Rs.1.16 arba in Q3 which was Rs.88.80 crore in the same period of last fiscal year. The bank’s deposit rises by 7.33%. The bank has collected deposit Rs. 61.45 arba in Q3 of FY 2075/76 from Rs.57.26 arba in Q3 of last Fiscal year. The bank’s loans and advances have also increased by 10.41%. .It had extended Rs.56.80 arba in loan and advances which was Rs.51.45 arba in same period of last fiscal year. The net interest income (core business income) of the bank has also increased by an outstanding 54.76%. It has made net interest income of Rs. 2.23 arba in Q3 from Rs.1.44 arba in Q3 of last fiscal year 2074/75.

The bank has made expenses of Rs.82.43 crore for staff salary which was Rs. 73.42 crore in Q3 of last year. It has posted operating profit of Rs.1.63 arba from Rs.1.24 arba in the corresponding quarter of last year. Paid up capital stands at Rs.7.01 arba. Reserve increased to Rs.3.27 arba. It's non performing loan increased to 3.26% from 3.97% in the last year.

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