A press statement issued on Sunday said that apart from normal banking activities, sales of non-banking assets and shares belonging to Nepal Bank Limited are some of the factors that boosted up the profit volume. [break]
During the period, the bank has been able to mobilize deposits of Rs 9.72 billion and disbursed Rs 8.64 billion on loans. The capital adequacy ratio of the bank has also increased to 12.41 percent, higher than the mandatory requirement of 10 percent and the non-performing loans of the bank have also declined to 2.1 percent.
The bank is planning to expand its branch network in the current fiscal year.
MDB´s profits up by 570 pc
KATHMANDU, Feb 7: Manakamana Development Bank has earned profits worth Rs 92.2 million during the first half of the current fiscal year and the profit amount was 570 percent more than the profits seen during the same period last year.
According to a press statement issued by the bank on Sunday, the total borrowing has increased to Rs 1.33 billion from Rs 561 million recorded in the same period last year. Likewise, total deposit has also increased by 102 percent to Rs 788 million.
The capital adequacy ratio of the bank was 34.69 percent, which is much higher than the central bank´s requirement of 11 percent, said the pres statement.
The non-pefomring assets of the bank have also been lowered to 8.74 percent from 73.58 percent witnessed during the same period last year.
Global to provide non-life insurance
KATHMANDU, Feb 7: Global Bank Ltd and Shikhar Insurance have signed an agreement to provide non-life insurance service to the bank´s customers.
Janak Sharma Poudel, deputy general manager of the bank, and Deepak Prakash Pandey, chief executive officer of Shikhar Insurance, signed the agreement on Friday.
Issuing a statement on Sunday, the bank said customers will get non-life insurance facility under a single roof after the signing of the pact.
The bank has set up a separate counter at its branch office at Kantipath to provide insurance service.
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