Kathmandu, January 5:

Nepal Merchant Banking and Finance Ltd (NMBFL) posted a growth of 13.87 per cent in its net profit to Rs 36.49 million during the fiscal year of 2005-06.

Presenting the annual report at the 11th annual general meeting, Mahabir Prasad Goyal, chairman of NMBFL said the company mobilised deposits worth over Rs 1.68 billion and floated loans and advances worth Rs 1.44 billion during the fiscal. He also informed that NMBFL has already made an operating profit of Rs 30.9 million during the first five months of the current fiscal year 2006-07.

The company’s deposits saw an increment of 15.47 per cent, while lending rose by 40.05 per cent. The meeting of the finance company decided to increase the paid up capital of each share from Rs 65 to Rs 80. During the period, the company acted as issue and sales manager for five ini IPOs, five rights share issuance and one debenture of a commercial bank.