KATHMANDU: NIC Asia Bank has released its financial results for the first quarter of the current fiscal year.

The bank has earned a profit of Rs 12.74 crore till mid-October. This profit is 4.32 percent higher than the same period last year. The bank had posted a net profit of Rs 12.21 crore in the same period last year.

During this period, the bank’s impairment charge decreased from Rs 1.18 billion to Rs 92.94 crore.

This has helped the bank to increase its profit. During this period, the bank’s net interest income and operating profit have decreased.

Net interest income decreased to Rs 1.88 billion from Rs 2.28 billion. Similarly, operating profit declined to Rs 16.14 crore from Rs 19.35 crore. The distributable profit of the bank was negative to Rs 15.39 billion.

The bank has an EPS of Rs 3.35 and a net worth per share of Rs 172.33. The bank has a paid-up capital of Rs 14.91 billion and a reserve fund of Rs 26.21 billion.

During the period, the bank collected deposit of Rs 341.84 billion and extended loan of Rs 191.20 billion.

The non-performing loan of the bank increased from 6.99 percent to 9.81 percent.