Kathmandu. Kamana Service Development Bank Fiscal Year 2081. It has become the first bank to disclose financial statements for the fourth quarter of 1982. The bank has released its financial statements today.
Nepal Rastra Bank (NRB) has given 30 days to make public its financial statements for the fourth quarter. Earlier, the time to declare the financial statements of the fourth quarter was 21 days.
According to the financial statement, the bank earned a profit of Rs 635.2 million in the last fiscal year. In the previous fiscal year, the bank had posted a profit of Rs 581.8 million. In this way, the bank’s profit has increased by 9.19 percent compared to the previous year.
The bank’s net profit stood at Rs 607.4 million in the review year. In the previous year, the bank’s net profit was negative by Rs 411.2 million. In the review year, the bank has increased the dividend capacity to 17.30 percent.
In the review year, the operating profit of the bank increased to Rs 986.9 million. In the previous year, the operating profit was limited to Rs 967.8 million. The operating profit of the bank also increased by 1.97 percent.
In the fourth quarter of the last fiscal year, the bank earned Rs 2.24 billion in interest income. In the same period last year, the bank had earned Rs 2.13 billion in interest income. Interest income increased by 5.25 percent.
With a paid-up capital of Rs 3.51 billion, the bank’s rated earnings and reserve size have increased to Rs 607.4 million and Rs 1.78 billion respectively. Last year, the retained earnings and reserves stood at Rs 411.2 million and Rs 1.69 billion, respectively.
During the review period, the bank collected deposits of Rs 62.83 billion and invested Rs 49.96 billion in loans. In the previous fiscal year, the bank had collected deposits of Rs 59.66 billion and invested Rs 45.97 billion in loans.
In the review year, the bank’s bad loan ratio (NPL) increased marginally to 3.38 percent. In the same period last year, the bank’s NPL was 3.36 percent.
The bank’s annualised earnings per share (EPS) increased to Rs 18.10. Last year, the EPS was limited to Rs 17.73. The bank has a net worth of Rs 168.13 per share with a PE ratio of 27.69 times.
The bank achieved this growth amid the current economic challenges. Despite issues such as interest rates, market competition and cyber security, the bank has been able to expand its business. The bank has already approved the proposal to issue non-binding preferential shares in the last general meeting and submitted it to the Securities Board of Nepal for approval after obtaining its approval from the Nepal Rastra Bank. The bank, which has 130 branches across the country, has been providing various financial services based on digital technology.
