Steller upsurge of NIC Asia’s profit to 170 percent

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NIC Asia Bank Limited (NICA) has reported a steller upsurge in the net profit for the first quarter of the fiscal year 2075/76. As per the quarterly report published, the net profit has advanced by 170.09% in the fiscal year.

The bank’s profit has surged from Rs 27.86 crore in the first quarter of the fiscal year 2074/75 to Rs 75.26 crore in the first quarter of the fiscal year 2075/76. In the first quarter of the FY 2075/76, the bank had Rs 58.22 crore as Free Profit after Regulatory Adjustments which can be utilized in distributing dividends to its shareholders.

The bank’s deposit has decent growth rate of 55.62% to Rs 1.61 kharba and loans and advances have also boosted by 60.55% to Rs 1.39 kharba in the first quarter. The Non-Performing Loan (NPL) has also increased to 0.26% from 0.06%.In the first quarter, the EPS of the bank stands at Rs 37.49. The net worth per share stands at Rs 163.46.

 

 

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