Kathmandu. Muktinath Bikas Bank has published its financial statements for the second quarter of the current fiscal year. According to the financial details released by the bank, the profit of the bank has increased.

In the first six months of the current FY, the bank earned a net profit of Rs. 67.20 crores. It was 33.57 percent more than the same period last year. The bank had posted a net profit of Rs 50.31 crore in the same period last year. In the current fiscal year, the bank’s net interest income and operating profit have increased. Due to which the profit of the bank has also increased.

In the review period, the bank’s net interest income increased by 8.14 percent to Rs 2.37 billion. Similarly, the bank’s net fee and commission income decreased by 9.61 percent to Rs 26.34 crore. In the first six months of the current FY, the bank’s total income increased by 7.61 percent to Rs 2.71 billion and operating profit by 35.02 percent to Rs 971 million.

In the review period, the non-performing assets (NPL) of the bank decreased from 3.98 percent to 3.75 percent. As a result, the impairment charge has come down from Rs 82.71 crore to Rs 61.06 crore. As of mid-January 2018, the bank has earned a distributable profit of Rs 19.52 crore and distributable earnings of Rs 4.88 per share.

In the first six months of the current fiscal year, the bank’s earnings per share have also increased compared to the previous year. As of mid-January, the bank’s income increased by Rs 2.52 to Rs 16.80. As of mid-January, the company has P/E ratio of 20.77 times and net worth per share of Rs 151.35.

As of mid-January 2018, the bank has a paid-up capital of Rs 8.03 billion and reserve fund of Rs 4.10 billion. As of mid-January, the bank collected deposit of Rs 115.38 billion and extended loans of Rs 98.54 billion.