Two banks on merger Tinau and Mission Development Bank publish Q3 report
April 17, 2019 | Investopaper
Two banks Tinau and Mission Development Bank who recently made the merger agreement have published their third quarterly report today for FY 2075/76. The swap ratio of the merger was 1:1. The paid up capital post the merger will reach 1.14 arba.
See the table below to know the highlights of the third quarter of the respective banks.
As shown in the table, the net profit of Mission Development Bank has increased by 15.08 percent to 6.46 crores this quarter as compared to the corresponding quarter of the previous year. Similarly, net interest income has amounted to 15.82 crore which is a 23.24 percent growth if compared to last quarter. Non-performing loan stands at 0.43. Annualized EPS stands at Rs. 14.96 while net worth per share is Rs. 120.04.
As shown in the table, the net profit of Tinau Development Bank has increased by 13.37 percent to 6.10 crores this quarter as compared to the corresponding quarter of the previous year. Similarly, net interest income has amounted to 14.50 crore which is a 20.71 percent growth if compared to last quarter. Non-performing loan stands at 0.37 Annualized EPS stands at Rs. 14.35 while net worth per share is Rs. 124.64.