Nepal Rastra Bank had decided to investigate financial position of Nepal Bangladesh Bank (NBB). NBB had announced its net profit amounting to Rs. 939.22 millions and Rs. 861.024 millions as right back of provision for possible loss during the nine month of the current fiscal year 2065/66. The net profit amount was highest when compared with good performing commercial bank of Nepal for the nine month period. However, the operating income of the bank was less than half of its net profit. The operating profit was Rs. 314.324 million.
Nepal Rastra Bank had asked NBB to submit the details of loan recovery information to NRB to verify the truth worthy of loan recovery data and to know the payment of loans by the promoter. Promoter had large amount of loans and the delay in the recovery of these loans led the non performing loan of the bank to height.
The non performing loan (NPL) to total loan of the bank figured to 29.90 % during the first nine month of the current fiscal year 2065/66 but it had 37.60 % in the corresponding year for the same duration.
Source:
Jamb News Service
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Thursday, June 11, 2009
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