Everest Bank Reports Rs 3.32 Billion Profit in Nine Months, Slight Dip from Previous Year
Summary
Everest Bank reported a profit of Rs 3.32 billion in nine months, a slight decrease from the previous year's Rs 3.45 billion, attributed to higher loan loss provisioning. The bank significantly expanded loans to Rs 250 billion with non-performing loans at just 0.61 percent.
Key Points
- Everest Bank earned Rs 3.32 billion profit in nine months, Rs 130 million less than the previous year.
- The decrease in profit is due to increased loan loss provisioning.
- Loan disbursement increased from Rs 213 billion to Rs 250 billion over the period.
- The bank's non-performing loans stand at 0.61%, with a capital adequacy ratio of 12.87%.
- Rs 1.74 billion of profit is distributable to shareholders, totaling Rs 4.04 billion including retained earnings.
