Om Development Bank net profit declines by 21%; Reserve surged by 100%

Om Development Bank (ODBL) has published its 2nd quarter report for the FY 2074/75. The net profit of this Development bank has decreased by 20.99%. 

As per the published report, Om Development Bank has earned a net profit of Rs 15.03 crore. The profit was Rs 19.03 crore in the corresponding quarter of last fiscal year. A shrink of  21.35% is noticed in company's operational profit. It amounts to Rs  22.21 crore, it was Rs 28.24 crores in the corresponding quarter of last fiscal year.

The development bank's net interest income has increased to Rs 32.29 crore, up from Rs 35.32 crore. This shows a decline of 8.58%. Company's interest income has surged by 52.05%, whereas interest expense escalated by 118.64%.  

ODBLhas collected a total deposit of Rs 17.59 arba, approx. 35.33% more than that collected last year. Total lending has increased by approx. 39.06% in the review period.

 

On the positive side

• ODBL now has an adequate capital with CAR at 18.94%.   
• Reserved surged by 100%

On the negative side,

• Earning per share has decreased to Rs 14.07 which was Rs 27.97 in the same quarter of previous year.
• A huge increment in Interest expense.
• Net profit declined by approx. 21%

 

(Figure In 000's)

Particulars	As of 2074/75	As of 2073/74	Percentage Change
Paid-up Capital	2,137,129.30	1,360,281.60	57.11
Reserve	915,568.58	457,314.85	100.21
Deposit	17,586,729.12	12,995,083	35.33
Net Interest Income	322,884.11	353,194.77	-8.58
Operating Profit	222,142.50	282,441.26	-21.35
Staff Expense	70,606.72	47,750.14	47.87
Net profit	150,312.98	190,237.70	-20.99
Cost of Fund	8.40	5.38
EPS	14.07	27.97
Networth	142.84	133.62