Kathmandu. Nepal Bank’s net profit has increased by 183.04 percent in the second quarter of the current FY.

In the first six months of the current FY, the bank has earned a profit of Rs 1.30 billion. The profit increased by 183.04 percent compared to the corresponding period of the previous year. The company had posted a net profit of Rs 46.10 crore in the same quarter last year.

During this period, the bank’s net interest income decreased and operating profit increased. Also, the bank’s impairment charge has decreased during this period.

The bank’s net interest income decreased by 3.97 percent to Rs 4.44 billion. Similarly, operating profit increased by 394.64 percent to Rs 2.06 billion.

The impairment charge has decreased to Rs 47.99 crore in the second quarter of the current fiscal from Rs 2.52 billion in the second quarter of the previous FY. This has helped increase profits.

As of mid-January, the distributable profit of the bank stood at Rs 91.49 crore. The distributable earnings per share is negative at Rs 12.45. The bank’s earnings per share increased by Rs 11.49 to Rs 17.76 and net worth per share stood at Rs 262.43.

The bank has a paid-up capital of Rs 14.69 billion and reserve fund of Rs 23.86 billion. The bank collected deposit of Rs 364.87 billion and extended loan of Rs 230.30 billion.