Kathmandu. NIC ASIA Bank (NIC ASIA) has published its unaudited financial results for the end of the last fiscal year.

The bank has earned a net profit of Rs 18.17 crore in the same period last year. The bank had posted a net loss of Rs 3.87 billion in the same period of the previous FY.

The impairment charge has been reduced to Rs 2.91 billion from Rs 9.71 billion. This has helped the loss-making bank to turn profitable.

The bank’s net interest income decreased to Rs 7.84 billion in the same period of the last FY from Rs 10.13 billion in the corresponding period of the previous FY. Similarly, the bank’s net profit from fees and commission has increased to Rs 1.42 billion from Rs 1.21 billion.

The operating profit of the bank was negative at Rs 4.51 billion. In the same period last year, it was Rs 97.91 crore. The bank has a net profit of Rs 14.86 billion as of mid-July last year.

The bank has paid-up capital of Rs 14.91 billion and reserve fund of Rs 25.65 billion. During the period, the bank collected deposits of Rs 343.67 billion and extended loans of Rs 192.01 billion.

The bank has EPS of Rs 1.22 and net worth per share of Rs 172.32. The non-performing loan of the bank has increased from 8.74 percent to 9.26 percent.