Kathmandu. The National Cooperative Bank (NCB) is in a strong financial condition.

The bank has posted a net profit of Rs 71.22 crore in the review period of the current FY, up from Rs 11.82 crore in the review period of the previous FY. As of mid-April of the current FY, the bank has earned a net interest income of Rs 56.16 crore. In the same period last year, it was Rs 1,0139,78,000.

The bank’s net fee and commission income has increased from Rs 2,30,14,000 to Rs 2,39,66,000. Total income of the bank decreased from Rs 1,09,26,11,000 to Rs 81.29 crore. Similarly, the amount of the bank’s loan and other possible loss risk management has decreased from Rs 740.38 million to Rs 29.85 crore. This has helped in increasing the profitability of the bank.

Similarly, the net operating income increased to Rs 51.44 crore from Rs 35.22 crore. As of mid-April, the operating profit of the bank stood at Rs. 96.91 lakhs. It was negative by Rs 13.48 crore in the same period of the previous year.

The bank’s capital adequacy ratio stood at 4.42 percent as of mid-April. It was 1.86 percent in the same period last year. The bank has a paid-up capital of Rs 2.91 billion and reserve fund of Rs 4.06 billion.

During the review period, the bank’s cumulative profit decreased from a negative of Rs 4.10 billion to Rs 3.81 billion.