21st January 2025, Kathmandu
Muktinath Bikas Bank has announced a notable increase in its net profit for the second quarter of the current fiscal year.
Muktinath Bikas Bank Q2 Profit Growth
The bank’s profit surged by 19.79%, rising from NPR 42 million last year to NPR 50.31 million this year.
Growth Driven by Increased Interest and Operating Income
The increase in profit was primarily driven by higher interest income and operating income. The bank’s interest income grew from NPR 2.08 billion to NPR 2.19 billion, reflecting stronger revenue generation from loans and other interest-bearing assets.
At the same time, the bank’s operating income also showed a robust increase, rising from NPR 61.69 million to NPR 71.85 million.
Solid Financial Standing and Strong Capital Base
Muktinath Bikas Bank continues to maintain a solid financial foundation. The bank has paid-up capital of NPR 7.04 billion and reserves of NPR 3.35 billion, which provides a strong buffer against potential risks.
Retained earnings stand at NPR 54.28 million, indicating the bank’s ongoing ability to generate internal funds for further growth.
Impressive Loan and Deposit Growth
The bank also reported substantial growth in both loans and deposits. Muktinath Bikas Bank has disbursed loans totaling NPR 95.63 billion and collected deposits amounting to NPR 112.60 billion. These figures indicate the bank’s continued ability to attract customers and expand its financial services.
Increase in Earnings Per Share Reflects Enhanced Profitability
In line with its strong performance, the bank’s earnings per share (EPS) increased by NPR 2.36, reaching NPR 14.28. This growth in EPS reflects the bank’s effective cost management and profitability. The net worth per share also increased to NPR 155.28, further signaling the bank’s financial strength.
Conclusion: A Positive Outlook for Muktinath Bikas Bank
Muktinath Bikas Bank’s financial results for the second quarter of the current fiscal year demonstrate its robust growth and profitability.
The bank’s increases in interest income, operating income, and overall financial indicators position it well for continued success. With a strong capital base and growth in key areas such as loans and deposits, Muktinath Bikas Bank is well-positioned for the future.
For more: Muktinath Bikas Bank Q2 Profit Growth
