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Reserve Fund of Ekata Devt Bank Increases 2 Folds

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Reserve Fund of Ekata Devt Bank Increases 2 Folds
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April 29: According to the third quarter financial report of current FY, the reserve fund of Ekata Development Bank has increased by 13.87 percent. In the third quarter of current FY, the net profit of the bank has increased by 48.51 percent and operating profit has increased by 48.67 percent. Similarly, the paid up capital of the bank has increased to Rs 227.7 million after distributing bonus share of 13.87 percent. After NRB directive of increasing paid-up capital of development bank operating in 10 districts to Rs 1.2 billion, bank is in process to merger with Siddhartha Development Bank and Nepal Aawas Finance.

In the third quarter, the bank has collected Rs 2.88 billion deposit and advanced Rs 2.31 million loans.  Similarly, the investment of the bank has increased by 59.78 percent to Rs 2.88 million. Interest income and interest expenses of the bank have increased by 36percent to Rs 213.4 million and 32.35 percent to Rs 119.6 million respectively.  Likewise, employee expenses, other operational expenses and total operational deposit have increased by 38 percent, 16.87 percent and 38 percent respectively. During the period, fixed asset of the bank has increased by 41 percent and other asset has increased by 9.8 percent.

Meanwhile, the bank has decreased provision for possible losses by 19.46 percent to Rs 5.33 million. The bank has capital adequacy of 12 percent and capital fund expenditure of 6 percent. CD ratio of the bank has decreased by 0.37 percent to 73 percent. As per the third quarter report, bank has EPS of Rs 28, P/E ratio of 12 times and liquidity ratio of 30 times. 

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