Kathmandu. NIC Asia Bank’s distributable profit stood at a negative of Rs 15.39 billion in the first quarter of the current financial year. The net profit declined by Rs 9.15 billion this year from Rs 6.24 billion in the same period last year.
The bank’s net profit increased by 4.32 percent to Rs 12.74 crore. In the first quarter of the previous year, the bank had posted a net profit of Rs 12.21 crore.
The net profit increased after the impairment charge fell by about 22 percent to Rs 92.94 crore. Last year, such charges were Rs 1.18 billion. The operating profit of the bank has decreased by 16.5 percent.
Similarly, the non-performing loan ratio of the bank increased from 6.99 per cent to 9.81 per cent. As of the first quarter, the bank collected deposits of Rs 341.84 billion and disbursed Rs 191.20 billion.
The bank has a paid-up capital of Rs 14.91 billion and a reserve fund of Rs 26.21 billion. Earnings per share is Rs 3.35 and net worth per share is Rs 172.53 crore.
