NIC Asia 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 10.49% to Rs. 14 crore 3 lakh, compared to Rs. 15 crore 67 lakh in the same period of the previous year. The bank stated that the decline in profit was mainly driven by a drop in net interest income, despite a reduction in impairment charges.
During the review period, the bank’s net interest income decreased by 20.78% to Rs. 6 arba 31 crore, while operating income fell by 16.45% to Rs. 7 arba 68 crore. Similarly, operating profit declined by 47.86% to Rs. 67 crore. On the positive side, impairment charges reduced from Rs. 3 arba 5 crore to Rs. 2 arba 91 crore.
In terms of business performance, the bank collected Rs. 3 kharba 34 arba 37 crore in deposits and disbursed Rs. 2 kharba 1 arba 34 crore in loans during the review period. The bank’s paid-up capital stood at Rs. 14 arba 91 crore 75 lakh, while distributable profit was negative Rs. 13 arba 65 crore and reserves stood at Rs. 10 arba 88 crore 59 lakh.
The bank’s earnings per share (EPS) declined to Rs. 1.25, while net worth per share stood at Rs. 172.97.
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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