Kathmandu, January 13:

Machhapuchhre Bank Ltd (MBL) has registered a net profit of Rs 84.8 million in the fiscal year 2004-05 as per the declaration made at the seventh annual general meeting of the bank held yesterday in Pokhara.

According to a press statement issued by the bank today, the bank has made a deposit collection of Rs 5.59 billion in the same fiscal while Rs 5.13 billion has been invested in various sectors in the form of loans.

The net profit of the bank compared to past fiscal year has gone up by 82 per cent. However, in lending, the bank has increased its amount by 102 per cent, said the statement.

Similarly, deposit collection has also gone up by 103 per cent compared to the previous fiscal. The non-performing assets of the bank have been reduced to 0.39 per cent in the current fiscal from an earlier 2.08 per cent.

The bank offers services like debit card, mobile banking, 365 days banking service, evening banking counters, internet banking, among others.