NMB Bank Limited reported a 27.11 percent increase in net profit in the first quarter of the fiscal year 2083/84, earning Rs 1.16 billion compared to Rs 916 million in the corresponding period of the previous fiscal year.

The bank’s annualised earnings per share (EPS) rose 25.42 percent to Rs 23.83. Similarly, annualised distributable profit per share increased by 43.88 percent to Rs 11.64 during the review period.

The bank’s gross loans increased by Rs 8.09 billion to Rs 276.04 billion, while total deposits grew by Rs 6.03 billion to Rs 324 billion. Its loan growth was above the industry average, according to the bank.

The non-performing loan (NPL) ratio stood at 4.92 percent, down from 4.97 percent in the immediately preceding quarter.

The bank’s operating profit also increased by 26.17 percent to Rs 1.89 billion. Meanwhile, impairment charges declined by 29.66 percent to Rs 502.18 million.