NIFRA’s profit drops 20 percent

Kathmandu, October 27

Nepal Infrastructure Bank (NIFRA) has published its unaudited financial statements for the first quarter of the current fiscal year. According to them, the bank’s net profit has fallen 20 percent compared with the same period last fiscal year.

In the first three months of the current fiscal year, the bank earned a net profit of Rs 166.4 million. In the same period last fiscal year, it had earned a net profit of Rs 208.5 million.

The decline in net interest income has affected net profit. Net interest income is down 7.7 percent from before. Such income was earlier Rs 373 million and has now fallen to Rs 344.2 million.

The bank’s earnings per share have also declined. Annualised earnings per share stand at Rs 3.08, and the bank’s net worth per share is Rs 112.38.

The bank has a paid-up capital of Rs 216 million and has accumulated Rs 2.6736 billion in its reserve fund.

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