Kathmandu. Kumari Bank has published its unaudited financial statements for the fiscal year 2082/83. As per the report, the bank has earned a net profit of Rs 7.38 billion in the review period. The profit of the bank has increased by 305.96 percent compared to the previous fiscal year 2081/82.

The bank had posted a net profit of Rs 1,710,000 crore in the same period last year. The bank’s net interest income has increased and impairment charges have reversed. Due to which the bank’s net profit has jumped.

In the review period, the bank’s net interest income increased by 3.37 percent to Rs 12.01 billion. The bank had posted a net profit of Rs 11.62 billion in the same period of the previous FY.

During the review period, the bank’s net fee and commission income increased by 14.55 percent to Rs 3.04 billion. In the same period of the previous year, the income of the bank was Rs 2.66 billion.

Similarly, the total income of the bank increased by 7.66 percent to Rs 16.35 billion. The bank had posted a net profit of Rs 15.19 billion in the same quarter of the previous FY.

The bank has been able to reverse the impairment charge of Rs 1.43 billion in the last FY. As a result, the bank’s operating profit increased by 101.09 percent to Rs 11.23 billion. The bank had posted a net profit of Rs 5.58 billion at the end of the previous FY.

Last year, the bank had a distributable profit of Rs 79.16 crore and distributable earnings of Rs 3.02 per share.

Along with the profit, the bank’s earnings per share have also increased significantly. In the review period, the bank’s income increased by Rs 21.23 to Rs 28.17. As of mid-July 2018, the bank has a net worth per share of Rs 170.80 and P/E ratio of 7.45 times.

The bank has paid-up capital of Rs 26.22 billion and reserve fund of Rs 18.56 billion. As of mid-July 2018, the bank collected deposit of Rs 402 billion and extended loans of Rs 270 billion.

The base rate of the bank is 5.08 percent during this period. In the last fiscal year, the bank’s NPL stood at 7.46 percent.