KATHMANDU

In the second quarter of the current fiscal year, the profit of Nic Asia Bank has decreased. According to the unaudited financial statement released by the bank, the bank’s profit has decreased by 41.84 percent in the six months of the current fiscal year. During this period, the bank has earned a net profit of Rs 1 billion, 90 million, and 38 lakhs. In the same period of the last fiscal year, the bank had earned a net profit of Rs 3 billion, or Rs 27 crore.

Similarly, the bank’s net interest income has decreased by 10.13 percent, while net fee and commission income has increased by 16.35 percent. During the review period, the bank’s total operating income has decreased by 4.96 percent and operating profit has decreased by 24.13 percent. During this period, the bank’s bad loans have increased from 0.61 percent to 1.19 percent. Also, the bank has a positive impairment charge of 48 crores during this period.

During the review period, the earnings per share (EPS) of the bank also decreased along with the profit. During this period, the bank’s EPS has been limited to Rs 25.52 from Rs 31.09.

Similarly, the bank’s price-earnings ratio is 19.97 times, while the net worth per share is Rs 205.10. Currently, the bank has accumulated Rs 15 billion, 67 crores, and 83 lakhs in its reserve fund. During the review period, the bank’s distributable profit was negative, amounting to Rs 59 crores and Rs 22 lakhs.