Kumari Bank (KBL) has released its third-quarter report for the current fiscal year, unveiling a significant increase in operating profit during the period.
According to the report, the bank achieved an operating profit of Rs 2.26 billion, marking a notable rise of 21.60% compared to the corresponding period of the previous fiscal year, where it stood at Rs 1.86 billion.
The growth in operating profit is attributed to a substantial increase in net interest income by 12.67% and net fee and commission income by 60.90% during the review period. Similarly, the bank witnessed a commendable surge of 19.14% in total operating income.
Despite the positive performance in operating profit, the bank experienced a decline in net profit, which decreased from Rs 1.30 billion to Rs 1.05 billion. Additionally, Kumari Bank reported a distributable loss of Rs 4.20 billion.
Maintaining an earnings per share (EPS) of Rs 5.35 and a price-to-earnings (P/E) ratio of 25.73 times, the bank showcased stability in financial metrics. The net worth per share remained consistent at Rs 136.52.
With a paid-up capital of Rs 26.22 billion and a reserve fund of Rs 9.62 billion, Kumari Bank displayed robust financial standing. The bank also demonstrated strong deposit collection of Rs 318.86 billion and extended loans amounting to Rs 274.53 billion during the period, indicating sustained growth and market presence.
