NMB Bank reports an impressive profit in its third-quarter

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Kathmandu, April 28: NMB Bank Limited (NMB) has reported a massive increase in net profit of 87.80% in its third-quarter for the Fiscal Year 2020/21.

The bank’s profit has increased from Rs 2.51 billion compared to 1.33 billion during the corresponding quarter of the previous year.  In the same quarter, the bank holds Rs 2.27 billion rupees as distributable profit after Appropriation and Regulatory Adjustments.

The bank’s deposit collection went up by 18% as compared to the immediate previous year ending to Rs 1.55 billion and loans increased by 28.91% to Rs 1.48 billion in the third quarter. The net interest income of the bank has remained stagnant at Rs. 4.30 billion to the corresponding quarter.

Meanwhile, the bank’s paid-up capital stands at Rs. 16.32 billion with Rs. 7.39 billion as its reserve and surplus.

The Non-Performing Loan of the bank has decreased to 1.97%.