Nepal Breaking NewsBusinessGarima Bikas Bank profit up 50 percent

Garima Bikas Bank profit up 50 percent

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The third quarter report for the fiscal year 2075/76 has been released by Bikas Bank. According to the unaudited , the bank’s efficiency has improved significantly.

and loans risen by 63 percent and 53 percent, respectively, over the last year. Deposits amount to Rs.30.36 Arba, while loans and advances amount to Rs.26.16 Arba. In the third quarter, Garima increased interest income by 41.62 percent to Rs. 99 crores. As a result, net profit has increased by 50% to Rs. 42.38 crores.

At the market price of Rs. 215, the Annualized EPS is Rs. 20.06, resulting in a P/E ratio of 10.72. NPL and base rate have also decreased to 0.26 and 11.13 percent, respectively, indicating improved performance in this quarter.

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