Net Profit of First Microfinance Increases by 56%

April 15: First Microfinance Development Bank’s net profit in the third quarter has totaled Rs 38 million. As per the unaudited financial result for the third quarter,  the bank's net profit has increased by 56 percent compare to the same period of last FY. Increase in net interest income and operating profit has helped raised the net profit of the bank. During the period, operating profit and net interest income of the bank have increased by 56 percent and 31 percent respectively. In the current FY,  the company has decreased its provision for possible loss by 47 percent. Similarly, the bank's non-performing loan is nill while the investment has totaled Rs 753,000.