Kumari Bank Limited (KBL) has released its unaudited financial statements for the third quarter of the current fiscal year. As per the details, the net profit of the bank has reached close to Rs 2 billion while the distributable profit has reached around Rs 1 billion.

The bank has earned a net profit of Rs 1.80 billion in the third quarter of the current fiscal year. This is 78.58 percent more than the corresponding period of the previous fiscal year. The increase in net profit was due to increase in net interest income and other operating income of the bank during the review period. The bank's distributable profit stood at Rs. 984.6 million as of mid-April.

Net interest income of the bank increased by 39.04 percent while net fee and commission income increased by 43.64 percent during the review period. Similarly, the bank's other operating income has increased from Rs 75 million to Rs 320 million. The bank's operating profit increased by 74.41 percent during the review period. As of mid-April, the bank has reversed the import charge of Rs 5.1 million.

Along with net profit, the bank's earnings per share has also increased. Such income of the bank has increased by Rs 3.24 paise to Rs 17.34 paise during the review period. As of mid-April, the bank's price-to-earnings ratio stood at 18.88 times, with a net worth of Rs 135.49 per share.

Compared to the end of last fiscal year, the paid up capital of the bank has increased by 10.85 percent and the reserve fund has increased by 3.73 percent in the corresponding period of the current fiscal year. Similarly, bank deposits increased by 9.57 percent and loans by 16.55 percent during the review period.

Along with credit investment, the bank's non-performing loans have increased modestly. Such loans increased by 0.11 percentage points to 1.09 percent in the corresponding period of the previous fiscal year as compared to the same period of the previous fiscal year.