Everest Bank Reports Rs 3.32 Billion Profit in Nine Months, Slight Dip from Previous Year

Kathmandu. Everest Bank has earned a profit of Rs 3.32 billion in nine months. According to the bank's published report for the third quarter of the current fiscal year, the bank has earned this amount in profit.

This profit is Rs 130 million less than the same period last year. The bank had earned a profit of Rs 3.45 billion and 76 million rupees in the same period of the last fiscal year. The profit has seen a slight decline due to an increase in the amount that needs to be set aside for loan loss provisioning.

The bank has significantly improved its loan expansion in the nine-month period. The bank, which had disbursed loans worth Rs 213 billion by the end of Asar, has reached Rs 250 billion by the end of Chaitra.

Meanwhile, the bank's non-performing loan is only 0.61 percent. The capital adequacy ratio is 12.87 percent, and the tier 1 capital ratio is 9.58 percent.

Everest Bank's CD ratio is 85.88 percent, base rate is 4.57 percent, interest rate spread is 3.12 percent, and return on equity is 13.56 percent. The bank's net worth per share is Rs 244.27 and EPS is Rs 32.35.

According to the bank's statement, out of the Rs 3.32 billion profit made by the bank, Rs 1.74 billion can be distributed to shareholders. Including the previous retained earnings, the distributable profit stands at Rs 4.04 billion.