प्रमिला भट्ट
Kathmandu. Shares of Corporate Development Bank (CORBL) have been sold by broker number 58. In the last trading days, broker number 58 has sold shares of the company.
Broker number 58 has sold 66,185 shares. All those shares have been purchased by broker numbers 71 and 72. Broker numbers 71 and 72 are trying to increase the share price of Corporate Development Bank. Taking advantage of the small market capitalization, limited individuals have increased the price.
Broker 72 of Corporate Development Bank has increased the share price by 106,000 shares in a few days. This broker has increased its holdings from 226,000 shares to 332,023 shares. Similarly, Broker 71 has also increased its shareholdings in the corporate. This broker has added 9,505 shares to 74,991 shares.
While circular trading is ongoing in companies with weak financial conditions, the regulatory body has not taken any action. Shares of Corporate Development, which has paid dividends only once in the past 10 years, are trading at Rs 2,271 on Sunday (Magh 20).
This is the company’s financial condition
The company has not been able to distribute dividends from the profit of the last fiscal year. According to the company’s financial statement for the second quarter of the current fiscal year 081/082, the company’s profit is Rs 17.39 million. The company’s paid-up capital is Rs 525 million. The bank’s net interest income in the current fiscal year 6 months is Rs 23.43 million. The bank’s net interest income in the same period last year was 46.8 million 4 thousand.
As of mid-June, the bank’s operating profit was 14.7 million 56 thousand, while deposit collection during that period was 1.85 billion 69 million. In the first 6 months, the company’s total assets were 2.65 billion 26.53 million, while loan investment was 1.34 billion 18.75 million.
During that period, the bank’s earnings per share were 4.09, while the bank’s net worth was 148.72 rupees. As of mid-June, the bank’s cost of funds was 7.17 percent. When the stock market reached the 3 thousand mark on 31st July 2081, the bank’s share price was 675 rupees. Then, when the stock market fell to the 2400 mark, the company’s share price increased to 2,580 rupees per share.
The National Bank of Nepal has repeatedly taken action against the Corporate Development Bank for not following financial discipline.
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