Nepal Bank Limited’s operating profit touches Rs 228m

Nepal Bank Limited (NBL) earned an operating profit of Rs 228.12 million in the last fiscal year, it said in a press statement. In the year before, the bank had posted an operating loss of Rs 36.71 million. The statement noted that the bank recorded a sound growth on deposits and investments during the year. During the year, the bank’s deposits grew by 7.10 percent to touch Rs 41.78 billion. Likewise, its loans went up by about 15 percent to Rs 15.77 billion and investment expanded by 3.5 percent to Rs 16.64 billion. While the bank’s income from interest during the year remained at Rs 1.34 billion, its non-performing assets dropped to 8.05 percent from 13.49 percent of the previous fiscal year. During the year, the bank made cash recovery of Rs 864 million, of which Rs 523 million was the principal sum and Rs 341.90 million interest repayment.