Kathmandu. NMB Bank Limited has earned a profit of Rs. 2.66 billion up to the third quarter of the current Fiscal Year (FY) 2078/79. According to the bank's quarterly financial statement released on Wednesday, the profit is 5.91 percent higher than the same period last year.

Till the third quarter of last year, the profit was Rs 2.51 billion. The company has reduced bad debts. The reduction in the loan has also helped the bank to increase its profit. Bad debt has been reduced by 0.51 percent in one year.

The NPL ratio of the bank has decreased from 1.97 in the third quarter of last fiscal year to 1.46 in the corresponding period of the current fiscal year. Similarly, the bank's reserve fund has accumulated Rs 5.37 billion up to mid-April of the current fiscal year. By the end of last year, the fund had accumulated Rs 5.10 billion.

Similarly, the distributable profit of the bank has decreased. The bank's distributable profit till the third quarter of the current fiscal year is Rs 1.32 billion. However, the distributable profit of the bank was Rs. 2.27 billion up to the same period last year. The bank's distributable profit has declined by Rs 946.8 million in a year.