Everest Bank Limited has published its unaudited financial statement for the third quarter of the current fiscal year, showing a decline in profitability. The bank’s net profit fell by 3.71% to Rs. 3 arba 32 crore 93 lakh, compared to Rs. 3 arba 45 crore 76 lakh in the same period of the previous year. The bank stated that the decline in profit was mainly driven by a significant increase in impairment charges.
Despite the drop in profit, the bank recorded growth in key income indicators. Its net interest income increased by 1.33% to Rs. 6 arba 83 crore 35 lakh, while operating income rose by 9.22% to Rs. 8 arba 93 crore 10 lakh. However, impairment charges surged from Rs. 27 crore 29 lakh to Rs. 77 crore 74 lakh, which weighed heavily on profitability. As a result, operating profit declined by 3.53% to Rs. 4 arba 90 crore 37 lakh.
In terms of asset quality, the bank’s non-performing loan (NPL) ratio improved slightly by 0.03 percentage points to 0.61%, indicating stable credit quality. During the review period, Everest Bank collected Rs. 3 kharba 2 arba 43 crore in deposits and disbursed Rs. 2 kharba 50 arba 87 crore in loans.
The bank’s distributable profit stood at Rs. 4 arba 4 crore 86 lakh, with a distributable EPS of Rs. 39.34. Its paid-up capital reached Rs. 13 arba 72 crore 14 lakh, while reserves stood at Rs. 19 arba 79 crore 58 lakh. The earnings per share (EPS) declined by Rs. 3.26 to Rs. 32.35, whereas the net worth per share stood at Rs. 244.27.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
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