Nepal Infrastructure Bank (NIFRA) has released its third-quarter report for the current fiscal year, revealing a notable increase in net profit during the period.
According to the report, the bank recorded a net profit of Rs 987.3 million, marking a 15.02% rise compared to the corresponding period of the previous fiscal year, where it stood at Rs 1.16 billion.
The growth in net profit comes despite declines in net interest income and operating profit, which saw a decrease of 2.57% and 14.99%, respectively. Net fee and commission income also dropped by 63.28% during the review period, contributing to the overall decline in operating income by 3.09%.
Despite these challenges, the bank maintained an earnings per share (EPS) of Rs 6.09 and a price-to-earnings (P/E) ratio of 34.46 times. Additionally, the net worth per share remained stable at Rs 110.65.
With a paid-up capital of Rs 21.60 billion and a reserve fund of Rs 2.01 billion, NIFRA showcased growth in deposit collection by 24.37% and loan extensions by 7.25% during the period, highlighting its commitment to financial expansion and development.
