Kathmandu - Nepal Investment Mega Bank Limited (NIMB) reported a modest net profit of NPR 4.5 million for the first quarter of the fiscal year 2082/83, a significant decline from NPR 146 million in the same period last year. The decline is mainly due to NPR 280 million allocated for loan loss provisioning.
While the bank saw a rise in fee and commission income (NPR 564.9 million), its net interest income dropped. As a result, Earnings Per Share (EPS) decreased from NPR 17.16 to NPR 0.53.
The non-performing loan ratio increased to 6.63%, up from 5.82% last year. Despite the drop in profit, the bank increased its deposits by NPR 23 billion and loans by NPR 4 billion.
The net worth per share stands at NPR 196, with a return on equity (ROE) of 0.27%. However, the distributable amount to shareholders remains negative, even though the bank has accumulated NPR 1.66 billion in retained earnings.
Published by NIMB on 2082-7-21
