Saturday, October 1, 2022

Kumari Bank earned Rs 1.21 billion in six months

Kathmandu: Kumari Bank Limited has made good progress in the second quarter of the current Fiscal Year. The bank has earned a net profit of Rs 1.21 billion in the first six months of the current fiscal year.

This is 50.49 percent more than the previous fiscal year. The bank had earned only Rs 803 million in the first quarter of the previous fiscal year. The distributable profit of the bank during this period was Rs. 637.5 million

The bank’s annual earnings per share stood at Rs 17.53. The bank’s annual earnings per share increased by Rs 0.70 from Rs 16.83 in the same period last year. The net interest income of the bank has increased by 37.01 percent to reach Rs. 2.49 billion during this period.

The bank’s operating profit increased by 53.47 percent to reach Rs 1.74 billion during the review period. The other operating income of the bank has increased significantly as compared to the net interest income due to the reverse impairment charge.

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