Excel Development Bank's Net Profit Soars; Distributable Profit Turns Positive, EPS at Rs. 24.76
Summary
Excel Development Bank Limited posted a net profit of Rs. 30.94 crore in the fourth quarter of FY 2082/83, driven by stronger net interest income, lower funding costs and improved operating efficiency. Its EPS rose to Rs. 24.76 while distributable profit turned positive at Rs. 17.97 crore.
Key Points
- Excel Development Bank Limited reported a quarterly net profit of Rs. 30.94 crore, up sharply from Rs. 13.51 lakh a year earlier.
- Net interest income increased 14.72% to Rs. 64.88 crore, while deposits and loans and advances also grew.
- Earnings per share surged to Rs. 24.76 and distributable profit turned positive at Rs. 17.97 crore.
- The bank’s capital adequacy ratio improved to 14.63% and its cost of funds fell to 2.89%.
