Manaslu Devt Bank’s Profit Increase by 79 percent

July 21: Manaslu Development Bank has registered a 79 per cent increase in its profit in the fiscal year 2072/73 compared to FY 2071/72. Issuing a press statement, the Gorkha-based bank informed that profit for the last FY has been logged at Rs 60.95 million against Rs 30.87 million in the previous FY.

As per the bank, deposits have increased by 58 per cent and extension of loans has risen by 47 per cent in the review period. During the period, the bank had zero non-performing loans.  According to the bank, it has proceeded to issue rights share in the ratio 2:1 of the currently maintained paid-up capital.

Apart from the central office, the bank has been providing financial services from eight places including Arughat and Laxmibazar of Gorkha, Dumre of Tanahu, Turture bazaar, Abukhaireni, DuleGauda, Narayanghat of Chitwan and Parsa. “We will soon open new branches in Tandi of Chitwan and Damauli of Tanahun,” reads the press release.