Category: Business | Market | Economy

  • Infinity Laghubitta’s AML/CFT and Quality Growth Training: Empowering Employees for Excellence

    Infinity Laghubitta’s AML/CFT and Quality Growth Training: Empowering Employees for Excellence


    Infinity Laghubitta Bittiya Sanstha Limited demonstrates its commitment to excellence and regulatory compliance by conducting AML/CFT (Anti-Money Laundering/Counter Financing of Terrorism) & Quality Growth Training for all branch office employees in Bara, Parsa, and Rautahat within the Madhesh Province. Under the leadership of Mr. Gyanishwor Panta, Deputy Chief Executive Officer and program chair, the training adheres to the guidelines of the Money Laundering Prevention Act, 2064, and focuses on achieving Quality Growth. Recognizing the crucial role of field employees in microfinance institutions, Mr. Panta highlighted the significance of such training sessions in elevating the overall quality standards of the microfinance sector. Infinity Laghubitta remains dedicated to fostering a culture of integrity and continuous improvement within its operations.

     

  • Shangri-la Development Bank Promoter Shares Auction Commences Today!

    Shangri-la Development Bank Promoter Shares Auction Commences Today!


     

    Shangri-la Development Bank Limited (SADBL) presents a unique investment opportunity as its existing promoters initiate the auction of 1,76,040 units of shares to both the general public and institutions starting from the 8th of Magh, 2080. In this exclusive offering, Nawaraj Bajagain is set to sell 5,030 units, while Iman Bahadur Gurung plans to divest 1,71,010 units of promoter shares to interested individuals. This auction provides potential investors with a chance to acquire shares in a well-established bank, and interested parties are invited to submit their bids within the next 15 days from the publication date of this notice. Don’t miss out on this limited-time opportunity to become a part of Shangri-la Development Bank’s growth and success.

  • Nepal Investment Mega Bank Q2 Report: 13.62% Net Profit Decline Amid Strong Financial Position

    Nepal Investment Mega Bank Q2 Report: 13.62% Net Profit Decline Amid Strong Financial Position


    Nepal Investment Mega Bank Limited (NIMB) has recently disclosed its financial performance for the second quarter of fiscal year 2080/81, indicating a 13.62% decrease in net profit, which now stands at Rs 1.08 Arba.

    Despite the decline in net profit, the bank remains in a strong financial position with a total paid-up capital of Rs. 34.12 Arba and reserves amounting to Rs. 26.07 Arba. It is important to note the negative retained earnings at Rs 1.95 Arba.

    During the same period, the bank’s total deposits reached an impressive Rs 3.89 Kharba, while loans and advances to customers totaled Rs 3.12 Kharba. An encouraging aspect was the substantial 80.20% increase in Net Interest Income, reaching Rs. 7.54 Arba. However, the financial report also highlighted significant expenditures, including personnel expenses of Rs. 1.73 Arba and impairment charges of Rs. 2.86 Arba.

    In terms of key financial metrics for the second quarter, NIMB reported an annualized Earnings Per Share (EPS) of Rs 10.56, and the net worth per share stood at Rs 170.68. Nonetheless, concerns arose as the Non-Performing Loans (NPL) spiked to 4.75%. Additionally, the bank revealed a negative distributable profit of Rs. 1.95 Arba.

  • Muktinath Bikas Bank Q2 FY 2080/81: 32.93% Net Profit Drop

    Muktinath Bikas Bank Q2 FY 2080/81: 32.93% Net Profit Drop


    Muktinath Bikas Bank Limited (MNBBL) has disclosed its second-quarter report for the fiscal year 2080/81, revealing a notable 32.93% decrease in net profit, dropping from Rs. 62.62 Crores in Q2 FY 2079/80 to Rs. 42 Crores in Q2 FY 2080/81. Concurrently, the bank reported a negative distributable profit after PL Appropriation and Regulatory Adjustments, amounting to Rs. 31.72 Crores during the same quarter.

    In terms of deposits, customer deposits underwent a 3.55% reduction, settling at Rs. 1.12 Kharba. However, loans and advances to customers saw a 1.95% upswing, reaching Rs. 96.29 Arba. Despite these fluctuations, the bank’s core business income, represented by Net Interest Income, demonstrated a positive trend, experiencing a 2.12% increase to Rs. 2.08 Arba compared to the corresponding quarter of the previous year.

    MNBBL’s financial structure comprises a paid-up capital of Rs. 7.04 Arba and Rs. 2.92 Arba in reserves and surplus. The annualized earnings per share (EPS) for the bank stood at Rs. 11.24, accompanied by a Net worth per share of Rs. 137.03.

    A notable aspect is the company’s trading position, characterized by a Price/Earnings (P/E) multiple of 34.22 times. Additionally, the Capital Adequacy Ratio (CAR) of the bank stands at 11.25%. However, there is a noteworthy increase in the Non-performing loan (NPL) ratio, which climbed to 2.51%.

  • Laxmi Sunrise Bank Q2 Report: Modest Profit Dip Amidst Impressive Growth and NPL Concerns

    Laxmi Sunrise Bank Q2 Report: Modest Profit Dip Amidst Impressive Growth and NPL Concerns


    Laxmi Sunrise Bank Limited (LSL) has shared its financial results for the second quarter of the fiscal year 2080/81, reporting a small 1.66% decrease in net profit to Rs. 1.05 Arba compared to the same period last fiscal year when it earned Rs. 1.07 Arba.

    The bank showcased positive growth with a remarkable 104.66% increase in net interest income, reaching Rs. 5.65 Arba, and operating profits rising to Rs. 1.44 Arba for the corresponding period. However, loans and advances saw a slight 0.07% decrease, while customer deposits increased by almost 4.84% to Rs. 3.1 Kharba. Notably, impairment charges surged significantly by 376.87%, totaling Rs. 2.73 Arba in Q2 of FY 2080/81.

    For the fiscal year, LSL reported an annualized earnings per share (EPS) of Rs. 9.14, and the net worth per share was Rs. 166.62. A concern arises as Non-Performing Loans (NPL) saw a substantial 199.36% increase, reaching 4.67% in the second quarter, a significant jump from the 1.56% recorded in the same period last fiscal year.

    LSL reported negative distributable profits of Rs. 81.18 Crores, while maintaining a paid-up capital of Rs. 23.18 Arba and reserves and surplus amounting to Rs. 16.26 Arba in Q2 of FY 2080/81. Specific figures show an increase of 7.00% in paid-up capital to Rs. 23,187,155.00, a decline of 146.97% in retained earnings to -811,864.00, and a 9.67% increase in reserves to 16,260,042.00. Deposits rose by 4.84% to Rs. 310,591,321.00, and loans and advances experienced a marginal decrease of 0.07% to Rs. 247,691,314.00. Net Interest Income increased significantly by 104.66% to Rs. 5,658,331.00. Personnel expenses and impairment charges were reported at Rs. 1,802,336.00 and Rs. 2,732,609.00, respectively.

    The operating profit for the quarter was Rs. 1,445,052.00, reflecting a 3.22% decrease, and the net profit stood at Rs. 1,059,210.00, representing a 1.66% decline. The capital adequacy ratio is reported at 12.67%, showing a slight decrease from the previous year. The Cost of Fund decreased by 14.59% to 7.61%. The NPL percentage increased significantly by 199.36%, reaching 4.67%. The Qtr end PE Ratio stands at 19.06 times.

  • Citizens Bank Q2 Report: Profits Dip 6.96%, Challenges Emerge

    Citizens Bank Q2 Report: Profits Dip 6.96%, Challenges Emerge


    Citizens Bank International Limited (CZBIL) has disclosed its financial performance for the second quarter of fiscal year 2080/81, revealing a 6.96% decline in net profit to Rs 78.27 Crores. The bank’s total paid-up capital is reported at Rs. 14.20 Arba, with reserves amounting to Rs. 6.77 Arba. However, retained earnings have recorded a negative value of Rs 21.3 Crores.

    During the mentioned quarter, the bank experienced a significant increase in total deposits, reaching Rs 1.75 Kharba, while loans and advances to customers reached Rs 1.48 Kharba. Despite a marginal 0.21% decrease, the Net Interest Income remained substantial at Rs. 2.83 Arba. However, the bank faced challenges with personnel expenses amounting to Rs. 93.01 Crores and impairment charges of Rs. 85.95 Crores.

    In terms of financial metrics, the second quarter reported an annualized EPS of Rs 11.02, and the net worth per share stood at Rs 146.20. However, CZBIL grapples with a spike in Non-Performing Loans (NPL) to 4.07%. Additionally, the revelation of a negative distributable profit of Rs. 21.30 Crores adds a significant dimension to CZBIL’s financial narrative during this period.

    Examining specific figures, the paid-up capital remained constant at Rs. 14,200,974.01, and reserves witnessed a 14.52% increase to 6,774,208.15. Deposits showed a notable 4.13% rise to Rs 175,808,073.73, while loans and advances increased by 6.06% to Rs 148,304,167.36. Net Interest Income experienced a marginal decrease of 0.21% but remained substantial at Rs. 2.83 Arba. Personnel expenses and impairment charges were reported at Rs. 930.18 Crores and Rs. 859.50 Crores, respectively.

    The operating profit for the quarter was Rs 1,086,454.06, reflecting an 8.85% decrease, and the net profit stood at Rs 782,784.84, representing a 6.96% decline. Furthermore, the disclosure of a negative distributable profit of Rs. 21.30 Crores underscores the financial challenges faced by CZBIL. The capital adequacy ratio is reported at 13.00%, showing an increase from the previous year. The Cost of Fund decreased by 15.73% to 7.77%. The NPL percentage increased significantly by 36.12%, reaching 4.07%. The Qtr end PE Ratio stands at 15.61 times, and the Qtr End Market Price is reported at 172.1.

  • MBL Promoter Shares Auction Launched

    MBL Promoter Shares Auction Launched


    Surendra Mahato has initiated the auction of 1,12,32,492 units of promoter shares from Machhapuchchhre Bank Limited (MBL). The auction period spans from the 5th to the 15th of Magh, 2080.

    A total of 1,12,32,492 promoter shares of MBL are up for auction, open to interested shareholders, including the general public and institutions. The auction allows bidding with a minimum rate of Rs. 113, and the minimum bid quantity for promoter shares is set at 1,00,000 units. Interested participants can submit their bids at Machhapuchchhre Capital Limited, located at Baghdurbar, JDA Complex, Kathmandu.

    As of the latest available information, MBL concluded trading at Rs. 204.00 on the previous day. Simultaneously, MBLPO recorded a Last Traded Price (LTP) of Rs. 136.00 as of May 10, 2023.

  • NIMB Ace Capital Extends ‘NIBL Stable Fund’ Deadline Due to Low Initial Applications

    NIMB Ace Capital Extends ‘NIBL Stable Fund’ Deadline Due to Low Initial Applications


    NIMB Ace Capital Limited has decided to extend the deadline for the “NIBL Stable Fund” mutual fund scheme to the general public and institutions until the 16th of Magh, 2080. Originally set to close on the 5th Magh, 2080, the extension was prompted by the scheme’s insufficient applications. Out of a total of 10 crore unit shares, 1% (10 lakh units worth Rs. 1 crore) has been allocated to the scheme manager NIMB Ace Capital Limited, 14% (1.4 crore units worth Rs. 14 crore) to the fund sponsor Nepal Investment Mega Bank Limited, and the remaining 8.5 crore units worth Rs. 85 crore are open for subscription from the general public. The “NIBL Stable Fund” operates as a closed-end fund, allowing applicants to apply for a minimum of 100 units and a maximum of 1,00,00,000 units.

    As per the information from the Central Depository System and Clearing Limited (CDSC), the scheme has received applications from 20,264 individuals, amounting to 2,38,16,750 units worth Rs. 23.81 Crore, as of 5 pm yesterday. Currently, “NIBL Mutual Fund” operates four closed-end schemes – “NIBL Pragati Fund,” “NIBL Samriddhi Fund-II,” “NIBL Growth Fund,” and “Mega Mutual Fund 1” – along with one open-ended Mutual Fund Scheme, “NIBL Sahabhagita Fund.” The first scheme under NIBL Mutual Fund, NIBL Samriddhi Fund-I, has successfully completed its operation after 7 years, distributing total cash dividends of 98.50% to unit-holders, equivalent to an approximately 18% effective rate per annum. Notably, NIBL Mutual Fund has introduced the first-ever open-ended mutual fund scheme in Nepal, “NIBL Sahabhagita Fund,” following the Mutual Fund Regulation 2067.

  • Machhapuchchhre Bank Q2 2080/81: 21.45% Drop in Net Profit, Attention Needed on NPL Increase

    Machhapuchchhre Bank Q2 2080/81: 21.45% Drop in Net Profit, Attention Needed on NPL Increase


    Machhapuchchhre Bank Limited (MBL) has recently unveiled its financial performance for the second quarter of the fiscal year 2080/81, providing insights into key metrics. In this quarter, MBL witnessed a notable 21.45% decline in net profit, falling from Rs. 1.02 Arba in Q2 FY 2079/80 to Rs. 80.53 Crores in Q2 FY 2080/81.

    The bank faced a 1.10% reduction in customer deposits, reaching Rs. 1.52 Kharba. However, loans and advances to customers experienced growth, rising by 2.99% to Rs. 1.29 Kharba compared to the previous year. The Net Interest Income, a critical indicator of core business income, decreased by 5.56% to Rs. 2.63 Arba. Encouragingly, impairment charges witnessed a decline of 21.57%.

    MBL’s paid-up capital stands at Rs. 11.62 Arba, complemented by Rs. 5.44 Arba in reserves and surplus. Nonetheless, Non-Performing Loans (NPL) increased to 2.26%, marking an 85.82% surge from the same quarter in the previous year.

    On a per-share basis, the annualized earnings per share (EPS) amounted to Rs. 13.86, and the Net worth per share was Rs. 144.97. The company traded at a Price/Earnings (P/E) multiple of 14.65 times. The rise in NPL is highlighted as an area requiring ongoing attention.

    For detailed figures and comparisons, refer to the complete Q2 report provided in the disclosure.

  • National Laghubitta Bittiya Sanstha Limited Initiates Auction of 63,242 Shares to General Public

    National Laghubitta Bittiya Sanstha Limited Initiates Auction of 63,242 Shares to General Public


    The current promoters of National Laghubitta Bittiya Sanstha Limited (NMFBS) have initiated the auction of 63,242 units of shares to the general public, starting from the 4th of Magh, 2080.

    Individuals interested in acquiring these shares are invited to participate in the auction, with a deadline of 10 days from the publication date of this notice, which is also the 4th of Magh, 2080.

    Prospective shareholders must submit their bids at the bank’s central office situated in Banepa-10, Kavrepalanchok. Initially, the shares were offered for auction exclusively to existing promoter shareholders. However, as no bids were received within the specified timeframe, the shares are now available for auction to the general public.

    As of the latest update, NMFBS concluded at Rs. 1,214.00 in the previous trading session. Meanwhile, NMFBSP is reported to have a Last Traded Price (LTP) of Rs. 1,115.00 as of January 25, 2023.

  • Siddhartha Premier Insurance Limited Initiates Auction of 300,000 Promoter Shares

    Siddhartha Premier Insurance Limited Initiates Auction of 300,000 Promoter Shares


    The current promoters of Siddhartha Premier Insurance Limited (SPIL) have initiated the auction of 300,000 units of promoter shares, making them available for interested promoter shareholders, as well as the general public and institutions. The auction period spans from the 3rd Magh to the 11th Magh of the year 2080.

    The auction entails the sale of 300,000 units of SPIL’s promoter shares, and interested parties, including both promoter shareholders and the general public or institutions, are eligible to participate. The auction sets a minimum bid rate of Rs. 220, with a minimum bid quantity of 5,000 units for promoter shares.

    NIC Asia Capital Limited has been appointed as the auction manager for this process.

    As of the latest available information, SPIL closed at Rs. 760.00 on the previous day. Concurrently, the Last Traded Price (LTP) for SPILPO stands at Rs. 625.00 as of April 4, 2023.

  • Mirmire Laghubitta Reports 41.48% Decline in Q2 Net Profit for FY 2080/2081

    Mirmire Laghubitta Reports 41.48% Decline in Q2 Net Profit for FY 2080/2081


    In the second quarter report of the fiscal year 2080/2081, Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) disclosed a significant 41.48% decrease in net profit. According to the company’s published report, the net profit declined from Rs. 5.81 crore in the corresponding quarter of the previous year to Rs. 3.4 crore.

    Various financial metrics also showed changes. The company’s borrowings decreased by 0.20% to Rs. 4.89 Arba compared to Rs. 4.9 Arba in the corresponding quarter of the previous year, while deposits decreased by 0.77% to Rs. 2.59 Arba. However, the company’s loans and advances increased by 3.32%, reaching 8.26 Arba in the same quarter.

    The net interest income (core revenue) experienced a significant decline of 25.84%, falling to Rs. 17.85 crores from Rs. 24.07 crore in the corresponding quarter of the previous year. Key financial figures included a paid-up capital of Rs. 66.57 crores, retained earnings of Rs. 6.23 crores, and reserves and surplus of Rs. 36.64 crores in the reported quarter.

    Additionally, the non-performing loans (NPL) ratio increased to 4.51% from 3.84%, while the cost of funds decreased to 10.45% from 11.72%. The capital adequacy stood at 9.71%. The company’s annualized earnings per share (EPS) was reported at Rs. 10.22, and the net worth per share was Rs. 164.41. The company traded at a price-to-earnings (P/E) multiple of 61.08 times.

    The table presents major financial highlights, showcasing a comparison between the immediate previous year’s quarter ending figures and those of the current quarter for various financial parameters.