. Kumari Bank Limited has published its financial results for the first three months of the current FY. According to the financial statement released by the bank, the net profit of the bank decreased by 2.01 percent. The bank has earned a net profit of Rs 1.05 billion in the first three months of the current FY.
The profit has decreased due to the increase in the impairment charge of the bank. The bank has set aside Rs 1.26 billion as impairment charge for the first quarter of the current FY. As a result, operating profit and net profit declined. The bank has earned Rs 2.91 billion in net interest in the first three months of the current FY. It was 3.77 percent higher than the same period last year. The bank had posted a net profit of Rs 2.80 billion in the same period last year.
In the review period, the bank’s net fee and commission income increased by 39.63 percent to Rs 84.91 crore.TAG_OPEN_div_20 In the previous fiscal year, such income was Rs 60.81 crore. Similarly, the total income of the bank increased by 13.12 percent to Rs 4.21 billion in the first three months of the current FY. The bank had posted a net profit of Rs 3.72 billion in the previous FY.
Similarly, the bank’s operating profit declined by 8.11 percent to Rs 1.TAG_OPEN_div_18 42 billion in the first quarter of the current FY. In the previous fiscal year, the bank had posted a net profit of Rs 1.54 billion.
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