Banking Khabar / Corporate Development Bank has posted a strong financial performance, with its net profit surging by 171.42 percent in the third quarter of the current fiscal year.
The bank earned a net profit of Rs 48.2 million by the end of the third quarter, up from Rs 17.7 million during the same period last fiscal year.
Net interest income also increased by 23.27 percent to Rs 67.7 million. Similarly, net operating income rose significantly from Rs 52.2 million to Rs 133.9 million, while operating profit jumped from Rs 24.8 million to Rs 96 million.
However, the bank reported a negative distributable profit of Rs 51.4 million.
During the review period, the bank recorded a reversal of impairment charges worth Rs 61.3 million. Its non-performing loan (NPL) ratio saw a notable improvement, dropping from 13.09 percent to 6.36 percent.
By the end of the period, the bank’s earnings per share stood at Rs 12.36, net worth per share at Rs 140.12, and liquidity ratio at 60.14 percent.
