Garima Bikas Bank Reports 4.17% Decline in Q1 Net Profit to Rs. 24.01 Crores
Summary
Garima Bikas Bank reported a 4.17% drop in first-quarter net profit to Rs. 24.01 crores in FY 2083/84, even as deposits and loans rose modestly. Net interest income, operating profit, and distributable profit all declined, while the NPL ratio edged up to 4.81%.
Key Points
- Net profit fell 4.17% year-on-year to Rs. 24.01 crores in Q1 FY 2083/84.
- Deposits rose 3.11% and loans and advances increased 2.57% during the quarter.
- Net interest income declined 7.79%, and operating profit dropped 4.34%.
- The bank's NPL ratio increased slightly to 4.81%, while the cost of funds fell to 3.46%.
