Lumbini Bank improves its financial state

Kathmandu, February 28:

Lumbini Bank Ltd has improved its financial position in various areas of operation in a comparative review of February 13, 2006 and February 13, 2007 following a change in the management, claimed Lumbini Bank’s release here today.

While the non-performing assets has been reduced to 21 per cent from 40.54 per cent.

The bank’s performing loans have increased by 80.64 per cent, while its deposits have increased by 38 per cent.The bank’s the concentration risk has been reduced, claims the press release.

Moreover, the bank has achieved a profit after tax and loan loss provisions to a level of Rs 217million against the loss of Rs 21.88 million in the corresponding period last year.

The interest income has increased by 49 per cent and other income has gone up by 478 per cent.