Prime Bank's net profit was 3 billion 68 crore Rupees,12.5 percent Growth

Aug Wed 2022 02:43:05

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Prime Bank's net profit was 3 billion 68 crore Rupees,12.5 percent Growth

Kathmandu. Prime Commercial Bank's net profit increased modestly. According to the financial statements of the last financial year, the bank has earned a net profit of 3 billion 68 million 12 lakh rupees. Last year it was 3 billion 26 million rupees. This is 12.63 percent higher.

There is no significant improvement in the income of the bank. Net interest income of the bank increased by 9 percent during this period. The fee and commission earned by the same bank has decreased by 22.24.

Despite a modest increase in profits, the bank's distributable profit is lower than in the previous financial year. The distributable profit has been reduced by almost 12 percent. Till the end of the last financial year, the bank has 2.34 billion rupees of distributable profit available.

There has also been a decline in the bank's earnings per share. Earnings per share decreased when the growth rate of net profit was lower than the ratio of paid-up capital. The bank's EPS remained at Rs 19.73, down by Rs 0.69. It was Rs 20.32 at the end of last June. Currently, the bank's net worth per share is Rs 147.69. And the bank's price-to-earnings ratio is 13.23 times based on the last trading price of the stock market at Rs 261.