Prime Commercial Bank (PCBL) has significantly increased its profit in the third quarter of the current fiscal year.

The bank had earned a net profit of Rs 2.81 billion in the third quarter of the current fiscal year, an increase of 38.76 percent over the same period of the current fiscal year.

The bank's net profit has increased due to improvement in net interest income and other operating income. Similarly, the bank's profit has increased even after allocating less than last year due to possible risks.

The bank's net interest income increased by 31.89 percent to Rs 4.40 billion during the period, while operating profit also increased by 39.28 percent.

The bank, which currently has a paid-up capital of Rs 16 billion, has Rs 7 billion in reserves. The bank's earnings per share has increased from Rs 19 to Rs 23 and its net worth per share is Rs 145.

The bank has also improved its bad loans to 0.86 percent.