Everest Bank Q3 Update: Net Profit Hits Rs 3.33 Arba Amid Lending Surge

Everest Bank Limited (EBL) has released its unaudited financial results for the third quarter of the current fiscal year 2082/83. The bank posted a net profit of Rs 3.33 Arba, reflecting a modest decrease of 3.71% compared to the Rs 3.45 Arba earned in the same period last year. This dip in profit comes despite a healthy 1.33% growth in Net Interest Income, which totaled Rs 6.83 Arba. The bank’s lending appetite remained aggressive, with loans and advances growing by 17.54% to reach Rs 2.50 Kharba. Deposits also saw a slight uptick of 1.21%, totaling Rs 3.02 Kharba. However, the bottom line was primarily impacted by a sharp 184.81% jump in impairment charges and an 11.19% rise in personnel expenses. On the positive side, Everest Bank continues to maintain exceptional asset quality, with its Non-Performing Loan (NPL) ratio improving to 0.61%. The bank’s distributable profit (retained earnings) stands at a strong Rs 4.04 Arba, positioning it well for future dividends. Key indicators show an annualized Earnings Per Share (EPS) of Rs 32.35 and a Net Worth per Share of Rs 242.53.