Kumari Bank Limited has reported a net profit of Rs 7.39 billion for the fourth quarter of fiscal year 2082/83, marking a sharp increase from the previous year.

According to the bank’s unaudited financial results, net profit rose 305.96% from Rs 1.82 billion in the corresponding period of FY 2081/82.

The significant increase in profit was supported by growth in core banking income as well as the reversal of impairment charges. During the review period, the bank’s net interest income increased by 3.37%, while net fee and commission income grew 14.55%. Total operating income increased by 7.66%.

Kumari Bank also reversed approximately Rs 1.44 billion in impairment charges, contributing to a 101.09% increase in operating profit.

The bank reported distributable profit of Rs 791.6 million, with distributable earnings per share of Rs 3.02. Its reported EPS increased by Rs 21.23 to Rs 28.17, while net worth per share stood at Rs 170.80.

Kumari Bank’s reported P/E ratio stood at 7.45 times. The bank had paid-up capital of Rs 26.23 billion and reserves of Rs 18.57 billion at the end of the fiscal year.

On the balance-sheet side, the bank reported total deposits of around Rs 402 billion and total loans of approximately Rs 270 billion.

The sharp rise in reported profit was therefore driven not only by operating income growth but also by the substantial reversal of previously recognised impairment charges.