Net profit reaches Rs. 2.01 billion in the fourth quarter of the fiscal year, driven by higher interest income and lower impairment charges.
Machhapuchhre Bank Limited has published its unaudited financial results for the fourth quarter of the fiscal year. The bank’s net profit increased by 92.45%, reaching Rs. 2.01 billion compared to Rs. 1.04 billion in the same period last year.
The profit growth was primarily due to an increase in net interest income and a reduction in impairment charges.
By the end of the fourth quarter, the bank’s net interest income rose by 15.41% to Rs. 5.76 billion, while operating income increased by 16.51% to Rs. 7.44 billion.
Meanwhile, impairment charges decreased significantly from Rs. 1.39 billion to Rs. 353.7 million. The bank’s non-performing loan (NPL) ratio improved by 0.03 percentage points, standing at 3.83%.
During the review period, Machhapuchhre Bank mobilized deposits amounting to Rs. 184.17 billion and extended loans totaling Rs. 141.63 billion.
The bank’s paid-up capital stands at Rs. 1.16 billion. It has a distributable profit of Rs. 107 million and reserves of Rs. 741 million.
Earnings per share (EPS) increased by Rs. 8.31, reaching Rs. 17.31. The distributable EPS stands at Rs. 9.23, while the net worth per share is Rs. 163.80.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
