Miteri Development Bank’s Net Profit Rises 8.98% to Rs. 14.12 Crore in Q4
Summary
Miteri Development Bank Limited reported an 8.98% increase in net profit to Rs. 14.12 crore in Q4 of FY 2082/83, driven by strong net interest income growth and reduced cost of funds.
Key Points
- Miteri Development Bank posted a net profit of Rs. 14.12 crore in Q4, up 8.98% from last year.
- Net interest income surged 50.26% to Rs. 30.74 crore due to higher deposits and loans.
- Deposits increased by 36.07% to Rs. 8.85 arba and loans and advances rose by 29.25% to Rs. 6.69 arba.
- Bank's capital adequacy ratio decreased to 25.75%, cost of funds dropped to 4.22%, and NPL remained low at 0.26%.
