Global IME Bank posts net profit of over Rs 5 billion

KATHMANDU: Global IME Bank has published its fourth quarter report of the last fiscal, 2021/22.

According to the report, the bank has been able to earn net profit of over Rs 5 billion.

The bank earned a net profit of Rs 5.20 billion in the review period, which increased by 25 percent compared to Rs 4.16 billion of the corresponding period of the previous fiscal.

Increase in operating profit and net interest income have contributed to the increase in the bank’s net profit.

In the review period, the bank increased its net interest income by 17.52 percent, net fee and commission by 9.27 percent, total operating income by 15.04 percent and operating profit by 26.90 percent.

The bank earned Rs 3.19 billion in operating profit during the period.

In the review period, the bank increased paid-up capital by 10 percent and reserve fund by 20.42 percent. The bank raised deposit by 3.37 percent and loan extension by 13.07 percent.

The bank logged an EPS of Rs 21.88, net worth per share of Rs 156.11 and P/E ratio of 11.49 times, as per the fourth quarter report.