Kathmandu. NIC ASIA Bank has released its first quarter financial results of the current fiscal year.

In the first three months of the current FY, the bank has increased its profit compared to the same period last year. During the period, the profit of the bank increased by 10.53 percent to Rs 12.60 crore. The bank had posted a net profit of Rs 11.05 crore in the same quarter last year.

During this period, the bank’s net interest income decreased slightly and the operating profit increased. The bank’s net interest income decreased to Rs 2.28 billion from Rs 2.55 billion.

Similarly, operating profit increased to Rs 19.35 crore from Rs 17.38 crore. The distributable profit of the bank stood at Rs 6.24 billion as of mid-October.

The bank has a paid-up capital of Rs 14.91 billion and reserve fund of Rs 20.97 billion. The bank collected deposit of Rs 337.31 billion and extended loans of Rs 212.22 billion.

As of mid-October, the bank’s NPL has come down from 2.08 percent to 1.74 percent. The bank has EPS of Rs 3.21 and net worth per share of Rs 198.74.