Kathmandu. Machhapuchchhre Bank has released its financial results for the first quarter of the current fiscal year 2083/84.

The bank has earned a profit of Rs 55.11 crore in the first quarter of the financial year 2083/84. This profit is 31.86 percent higher than the same period last year.

The bank had posted a net profit of Rs 41.79 crore in the same quarter last year.

During this period, the bank’s net interest income, operating profit has increased and provisioning has decreased. This has helped in increasing the bank’s profit.

The bank has made a provision of Rs 21.12 crore till the end of October. In the same period of the last financial year, it was Rs 46.08 crore.

The bank’s net interest income increased from Rs 1.45 billion to Rs 1.68 billion.

Operating profit increased to Rs 86.02 crore from Rs 59.84 crore.

As of September, the bank’s distributable amount stood at Rs 11,21,14,000. The bank’s non-performing loans have come down from 4.13 per cent to 3.97 per cent.

The bank has EPS of Rs 17.71 and net worth per share of Rs 164.4. The bank has a paid-up capital of Rs 15.44 billion and a reserve fund of Rs 7.90 billion.

The bank collected deposit of Rs 228.37 billion and extended loan of Rs 172.64 billion.