Kathmandu. Salpa Bikas Bank, which recently issued the initial public offering (IPO) to the general public, has published its financial statements for the second quarter of the current fiscal year. According to the financial statement released by the bank, its net profit is in loss.

The bank has a negative net worth of Rs 1,04,01,203 till January of the current fiscal year. The bank had posted a net profit of Rs 13,92,977 in the same period of the previous FY. The net loss of the bank has increased compared to the last fiscal year.

The bank has incurred losses due to the decrease in net interest income. The net interest income of the bank has decreased by 23.03 percent. In the first six months of the current FY, the bank earned Rs 2,81,50,484. In the last fiscal year, the bank had a net profit of Rs 3,65,75,000.

The bank’s earnings per share is also negative. The bank has a net profit of Rs 1.99 per unit. The net worth per share of the bank is Rs 101.31.

In the first six months of the current FY, the bank’s NPL stood at 4.93 percent. The bank’s bad loans have decreased slightly compared to last year. As of mid-January of the last FY, the bank’s loan stood at 5.51 percent.

Presently, the bank has a paid-up capital of Rs 52.23 crore and reserve fund of Rs 2,27,97,000. The bank collected deposit of Rs 1.53 billion and extended loan of Rs 1.14 billion.