NIC Asia Bank has reported net profit of Rs.1.52 arba in the fourth quarter of this fiscal year 2074/75. NICA aisa bank became first bank to published report based on Nepal financial reporting standard (NFRS)
As per the published report, the commercial bank has reported increased in net profit to Rs.1.52 arba in this Q4 from Rs.1.43 arba in the corresponding quarter of last fiscal year 2073/74. Net profit increased by 5.67%.
As per the NFRS model, the bank has distributable amount Rs.82.46 crore as dividend to its shareholders.
During the period the bank has collected deposit of Rs.1.51 kharba & floated in loan & advances of Rs.1.21 kharba. Deposit collection increase by 74.40% & loan expansion increased by 66.52% in the comparing period.
It has interest income of Rs.13.29 arba. Its net interest income increased to Rs.3.96 arba from Rs.2.53 arba in the last corresponding quarter. Operating profit increased to Rs.2.25 arba from 1.94 arba in the last year.
Its paid up capital is Rs.8.02 arba with reserves of Rs.4.19 arba.
Its non performing loan stands at 0.06 percent from 0.36 percent from the last year
Annualized earning per share is Rs.18.94. Net worth per share is Rs.152.24. Cost of fund is 7.67%. Credit to deposit ratio is 74.12% which means it can lend more loans.
