The financial progress of NIC Asia Microfinance, Issuing biggest IPO fund

Apr Sat 2020 11:09:09

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The financial progress of NIC Asia Microfinance, Issuing biggest IPO fund

The progress of NIC Asia Microfinance, which is the largest of the microfinance institutions, has applied to the Securities and Exchange Board to sell its primary shares worth Rs 475.5 million.

NIC Asia Microfinance has earned a net profit of Rs 111.2 million in the second quarter of the current fiscal year. Compared to last year, Laghubitta has earned a net profit of Rs 53.5 million more.

The increase in operating profit and net interest income of microfinance has led to increase in net profit.

As of the second quarter, microfinance has collected Rs 794.9 million in deposits and Rs 4.71 billion in loans and Rs 5.34 billion in loans.

Laghubitta has earned Rs 220 million net interest income in the second quarter as against Rs 130 million in the previous fiscal year. As of mid-January, Laghubitta has earned an operating profit of Rs 162.6 million.

At present, the paid-up capital of microfinance is Rs 1 billion and the reserve fund is Rs 218.8 million.

The non-performing loan ratio of microfinance is 0.57 percent.