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Money Matters News In Brief (25 November - 1 December 2013)

  3 min 5 sec to read

Citizens Post 100m Profit
Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year. According to the unaudited financial report of the first quarter of current fiscal year made public by the Bank, the Company has collected Rs 23.28 billion deposit and floated the loan amount Rs 19.23 billion during the period. According to the Bank, its paid-up capital has now reached Rs 2.10 billion.
 
Century Observes Net Profit Surge
The net profit of Century Bank Ltd has increased in the first quarter of the Fiscal Year 2013-14, according to the unaudited financial report of the Company. The Bank has said that its net profit has increased to 23.9 million in the first quarter of the current fiscal year from Rs 1.8 million in the same period of last fiscal year. According to the report, net interest income of the Bank has also increased in recent period. The Bank had earned Rs 58.6 million net interest income in first quarter of the last fiscal year, while the net interest income reached Rs 67.3 million in the first quarter of the current fiscal year. According to the Bank, it has the liquidity ratio of 27.92 per cent. 
 
Manaslu’s Net Profit 1.5m
Manaslu Development Bank has posted a net profit of Rs 1.54 million in the first quarter of the current fiscal year. The Bank, headquartered at Gorkha, has collected Rs 577 million deposit, while floated Rs 486.1 loan during the same period. According to the unaudited quarterly financial report of the Bank, it has earned Rs 6.8 million interest income in the first quarter of current fiscal year. The Bank, which holds Rs 120 million paid-up capital, has allocated Rs 380,860 for loan loss provision. 
 
Shangri-la Registers 15.4m Net Profit
Shangrila Development Bank has posted Rs 15.42 million net profit in the first quarter of the current fiscal year. According to the unaudited quarterly financial report of the Company, it has collected a total of Rs 3.28 billion deposit and extended Rs 2.81 billion loan in the same period. The Bank has extended Rs 109 million rupees in the real state sector alone during the first quarter of the Fiscal Year 2013-14. The Bank, headquartered at Pokhara, has Rs 19.28 of per share income. 
 
ADBL’s Net Interest Income Plummets
The net interest income of Agriculture Development Bank Ltd has declined in the first quarter of current fiscal year in comparison to the same period of previous fiscal year. According to the quarterly financial report of the Bank, its net interest income has plummeted to Rs 1.58 billion in the first quarter of the current fiscal year from Rs 4.72 billion in the same period of last fiscal year. Though the Bank observed a drop in the net interest income, there was nominal increment in the total deposit collected and the loan floated by the bank during the first quarter as compared to the same period of the last fiscal year. According to the financial report, the Bank has collected Rs 60.68 billion deposit and floated Rs 50.72 billion in the first quarter of current fiscal year, while the Bank had collected Rs 54.43 billion deposit and extended a total of Rs 49.72 billion loan in the same period of last fiscal year.   

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