Kathmandu. The financial condition of Saptakoshi Development Bank has improved considerably.

The bank’s net profit increased by 86.18 percent to Rs 15.04 crore in the same period of the previous FY.

The bank had posted a net profit of Rs 8.88 crore in the same quarter last year. Although the bank’s net interest income declined slightly during this period, the operating profit has increased.

The bank’s net interest income decreased by 0.47 percent to Rs 23.23 crore. Similarly, the operating profit increased by 132.05 percent to Rs 247.96 million.

The bank has reduced its NPL from 10.65 percent to 6.15 percent. The distributable profit of the bank stands at Rs 55.88 crore.

The bank has a paid-up capital of Rs 83.43 crore and reserve fund of Rs 44.80 crore.

The bank collected deposit of Rs 8.88 billion and extended loan of Rs 5.56 billion. The bank has EPS of Rs 18.04 and net worth of Rs 86.71.