First Microfinance Increases its Net Profit by 62 Percent in the First Quarter

First-Microfinance-Laghu-Bitta-Bittiya-Sanstha
Share It On:

3rd October 2022, Kathmandu

First Microfinance Laghubitta Bittiya Sanstha (FMDBL) has published its first quarter report of the current fiscal year.

The profit of First Microfinance, which increased net interest income by 100 percent, jumped by 62 percent.

First Microfinance earned a net profit of Rs 6 crore 37 lakh in the first quarter of the current financial year. In the previous period, the profit of microfinance was limited to 3 crores 94 lakh rupees. There is a significant improvement in the net interest income of microfinance in the first quarter of the year.

First Microfinance, which provides wholesale loans, has collected interest income of 12 crore rupees in three months. Till the end of the last Asoj of the previous year, such income was limited to 6 crore rupees.

Microfinance lending and credit disbursement are slower than in the past. Credit decreased by 0.31 percent and borrowing decreased by 2.5 percent.

During this period, the distributable profit of microfinance is 2 crore 34 lakh rupees. And after the increase in net profit, the earnings per share also seem to have increased.

Earnings per share rose to Rs 26.45 from Rs 16.35 in the first quarter of the current financial year.


Share It On:

Recent Posts

Citizens Bank 11.11 Deals: Exclusive Discounts on Daraz

Citizens Bank 11.11 Deals: Exclusive Discounts on Daraz

Share It On:5th November 2024, Kathmandu Citizens Bank International Limited signed an agreement with Nepal’s leading online marketplace, Daraz, to

Local Talent Shines in Cybersecurity: Bipu Ojha and Tuan Khuat Win CDU IT CodeFair CTF

Local Talent Shines in Cybersecurity: Bipu Ojha and Tuan Khuat

Share It On:5th November 2024, Kathmandu Bipu Ojha and his teammate Tuan Khuat have emerged as winners in the prestigious

CEDB Hydropower’s Extraordinary General Meeting Concluded: Five Directors Elected

CEDB Hydropower’s Extraordinary General Meeting Concluded: Five Directors Elected

Share It On: 5th November 2024, Kathmandu CEDB Hydropower Development Company Limited has successfully concluded its extraordinary general meeting. CEDB

Government’s Journalist Accident Insurance Program: Apply Now For Your Protection

Government’s Journalist Accident Insurance Program: Apply Now For Your Protection

Share It On: 5th November, Kathmandu The Department of Information and Broadcasting has announced the launch of a new insurance

Nepal Life’s Property Acquisition in Hetauda: A Strategic Move For Growth

Nepal Life’s Property Acquisition in Hetauda: A Strategic Move For

Share It On:5th November, Kathmandu Nepal Life Insurance, a leading life insurance company in Nepal, has recently expanded its footprint

Global IME Dividend Announcement: Key Book Closure Date Revealed

Global IME Dividend Announcement: Key Book Closure Date Revealed

Share It On:5th November 2024, Kathmandu Global IME Bank has good news for its shareholders! The bank has announced a