Kathmandu. The co-operative bank has earned a net profit of Rs 55,27,518 till mid-January of the current FY. The bank had posted a net profit of Rs 45,97,39,351 in the same period of the previous FY.

The bank, which was negative in the second quarter of the last fiscal year, has turned profitable in the same period of the current fiscal year.

The bank’s net interest income declined to Rs 17.91 crore from Rs 42.27 crore in mid-January. The bank’s net charge and commission income decreased from Rs 1,64,88,000 to Rs 1,30,03,000.

Similarly, the bank’s net operating income was negative at Rs 23.13 crore in mid-January of the last FY. In the same period of the current FY, the company earned a net income of Rs 34.57 crore.

Similarly, the operating profit of the company was negative at Rs 56.25 crore in the same period of the previous FY. In the same period of the current FY, the company earned an operating profit of Rs 1,83,221,000. This has helped to increase the profitability of the bank.

The bank with a paid-up capital of Rs 2.90 billion has reserve fund of Rs 4.30 billion. The total paid-up capital is Rs 3.15 billion. In the same period of the previous year, it was Rs 2.65 billion.

The bank’s earnings per share stood at Rs 0.19 compared to Rs 16.30 in the same period of the last FY. Non-performing loans increased from 17.13 percent to 35.74 percent. Consolidated profit is negative at Rs 4.05 billion.