ANALYSIS OF FINANCIAL PERFORMANCE OF JYOTI

BIKASH BANK LIMITED

A Project Work Report

Submitted By:
Samir Tamang
Symbol no. 711020099
T.U. Regd. No. 7-2-1102-80-2019
Group: Finance
Vinayak siddha college
Chabahil, Kathmandu

Submitted To:
The Faculty of Management
Tribhuwan University
Kathmandu

In Partial Fulfillment of The Requirements for The Degree of

BACHELOR OF BUSINESS STUDIES (B.B.S)

Kathmandu, Nepal
July, 2024
 DECLARATION

I hereby declare that the project work entitled “ANALYSIS OF FINANCIAL

PERFORMANCE OF JYOTI BIKASH BANK LIMITED” submitted to Faculty of
Management, Tribhuvan University, is an original piece of work under the supervision
of Mr. Bishal Bhattarai faculty member, Vinayak Siddha College, Chabahil,
Kathmandu and is submitted in the partial fulfillment of the requirements for the degree
of Bachelors of Business Studies (BBS). This Project work has not been submitted to
any other university or institution for the award of any degree or diploma.

……………………..

Samir Tamang

Vinayak Siddha College

July, 2024

ii
 SUPERVISOR’S RECOMMENDATION

The project work report entitled “ANALYSIS OF FINANCIAL PERFORMANCE

OF JYOTI BIKASH BANK LIMITED” submitted by SAMIR TAMANG of
VINAYAK SIDDHA COLLEGE is prepared under my supervision as per the
procedure and format requirements laid by the Faculty of Management, Tribhuvan
University, as partial fulfillment of the requirements for the award of the degree of
Bachelor of Business Studies (BBS). I, therefore, recommend the project work report
for evaluation.

…………………..
Supervisor
Mr. Bishal Bhattarai
Vinayak Siddha College
July, 2024

iii
 ENDORSEMENT

We hereby endorse the project work report entitled “ANALYSIS OF FINANCIAL

PERFORMANCE OF JYOTI BIKASH BANK LIMITED” submitted by SAMIR
TAMANG OF VINAYAK SIDDHA COLLEGE, in partial fulfillment of the
requirements for award of the Bachelor of Business Studies (BBS) for external
evaluation.

……………………. ……………………………..
Mr. Binaya Simkhada Mr. Ram Krishna Simkhada
Chairman, Research Committee Campus Chief
Vinayak Siddha College Vinayak Siddha College
July, 2024 July, 2024

iv
 ACKNOWLEDGEMENTS

This project work report entitled “ANALYSIS OF FINANCIAL PERFORMANCE OF

JYOTI BIKASH BANK LIMITED” has been prepared in partial fulfillment for the
degree of Bachelors of business studies (BBS) under the course designed by the Faculty
of Management, T.U. This study is based on the prescribed research format involving
the use of financial ratios in banking sector. At the time of preparing this study, I have
consulted with various personalities. So, I would like to extend my sincere thanks to
all whose works and ideas helped me in conducting the study. Sincerely, I would like
to pay my sincere gratitude to my project work report supervisor Mr. Bishal Bhattarai
of Vinayak Siddha College who guided through research work with providing
valuable suggestions, supports and supervision. Finally, I would like to offer my
profound gratitude to my family members, my friend, colleagues, well-wishers for their
encouragement and support during the entire period of my study.

…………………………
Samir Tamang
Vinayak Siddha College
June, 2024

v
 TABLE OF CONTENTS

Declaration ....................................................................................................................ii

Supervisor’s recommendation ..................................................................................... iii

Endorsement ................................................................................................................. iv

Acknowledgements ......................................................................................................... v

Table of contents ........................................................................................................... vi

List of tables ................................................................................................................ viii

List of figures ................................................................................................................ ix

Abbreviations ................................................................................................................. x

CHAPTER ONE:INTRODUCTION ......................................................................... 1

1.1 Background ............................................................................................................ 1

1.2. Profile of Jyoti Bikash Bank Limited .................................................................. 1

1.4 Rationale ................................................................................................................. 3

1.5. Review .................................................................................................................... 3

1.5.1. Theoretical Review .......................................................................................... 4

1.5.2 Review of Previous Study................................................................................. 6

1.6. Research Method .................................................................................................. 7

1.6.1. Research Design............................................................................................... 7

1.6.2 Population and Sample ..................................................................................... 8

1.6.3 Types of Data .................................................................................................... 8

1.6.4 Methods of Data Collection .............................................................................. 8

1.6.5 Tools of Data Analysis...................................................................................... 8

1.6.5.1 Financial Tools............................................................................................... 8

1.6.5.2 Statistical Tools .............................................................................................. 11

1.7. Limitations of the Study ..................................................................................... 11

CHAPTER TWO:RESULTS AND FINDING ........................................................ 12

2.1 Results ................................................................................................................ 12

vi
 2.1.1 Liquidity Ratios: ............................................................................................. 12

2.1.2 Profitability Ratios: ......................................................................................... 15

2.1.3 Turnover ratios: ............................................................................................... 19

2.1.4 Other Ratios: ................................................................................................... 22

2.2 Major Findings of the Study ........................................................................... 24

CHAPTER THREE:SUMMARY AND CONCLUSION ...................................... 27

3.1 Summary ............................................................................................................ 27

3.2 Conclusion ......................................................................................................... 27

BIBLIOGRAPHY ..................................................................................................... 29

websites .................................................................................................................... 29

vii
 LIST OF TABLES

Table 1: Cash and Bank Balance to Current & Saing Deposit Ratio.......................... 13
Table 2 :Fixed Deposit to Total Deposit Ratio ............................................................ 14
Table 3: Return on Asset.............................................................................................. 15
Table 4: Return on Net Worth .................................................................................... 16
Table 5: Return on Total Deposit................................................................................. 18
Table 6: Loan and Advance to Total Deposit .............................................................. 19
Table 7: Investment to Total Deposit Ratio ................................................................. 21
Table 8: Earning Per Share .......................................................................................... 22
Table 9: Price-Earning Ratio ....................................................................................... 23

viii
 LIST OF FIGURES

Figure 1 : Cash and Bank Balance to Current & Saving Deposit Ratio ...................... 14
Figure 2: Fixed Deposit to Total Deposit Ratio ........................................................... 15
Figure 3: Return on Assets........................................................................................... 16
Figure 4: Return on Equity .......................................................................................... 18
Figure 5: Return on Total Deposit ............................................................................... 19
Figure 6: Loan and Advance to Deposit Ratio............................................................. 20
Figure 7: Investment to Total Deposit ......................................................................... 22
Figure 8: Earning Per Shares ....................................................................................... 23
Figure 9: P/E Ratio....................................................................................................... 24

ix
 ABBREVIATIONS

EPS Earnings Per Share

i.e. That is
JBBL Jyoti Bikash bank limited
MPS Market Price Per Share
NRB Nepal Rastra Bank
NPAT Net profit after tax
ROA Return on Assets
RONW Return on Net Worth
ROE Return on Equity
Rs. Rupees

x
 1

CHAPTER ONE

INTRODUCTION

1.1 Background
Financial performance is a subjective measure of how well a firm can use assets from
its primary mode of business and generates revenues. The term is also used as a
general measure of a firm’s overall financial over a given period. Financial
performance in broader sense refers to the degree to which financial objectives being
or has been accomplished and is an important aspect of finance risk management.
Financial Analysis is an evaluation of both a firm’s past financial performance and
its prospectus for future. Financial statement analysis involves the calculation of
various ratios. In mathematics a ratio is the relationship between two quantitative
figures. In financial management the ratio is the relationship of two accounting
figures. The ratio analysis is the financial tool by which financial strength and
weakness are measured by relating two accounting data.
Bank is a financial institution, and the backbone of a country for the economic
development.
Bank constitutes the important segment of the financial infrastructure of any country.
In broad sense, bank can be said as important financial institution, which collects and
safeguards the public money, disburses the collected money for the productive
proposes, transfer funds, guarantees the credit worthiness and exchange of money.
The study aims to analyze the financial performance of Jyoti Bikash Bank Limited.
This study is done using recent data which will be helpful not only to the shareholders
but also to the customers and management. Private sector and public sector both can
play the vital role for the growth of the economy of any country. Integrated and
speedy development of the country is possible only when competitive banking
service reaches nook and corners of the country.

1.2. Profile of Jyoti Bikash Bank Limited

Jyoti Bikash Bank Limited is a national level development bank engaged in
commercial banking activity with category "Kha" license from Nepal Rastra Bank.
The Bank started its operation from 9thShrawan 2065. Established by a core group of
promoters coming from the employees of Nepal Electricity authority among other
 2

businessmen, professionals and common citizens, the bank had an original focused
vision of promoting hydropower sector through lending credit facilities to potential
hydro projects. Continuously assessing the needs of the common citizens and
economy of the country on the whole, the Bank has by now established itself as a
financial institution catering to a large segment of the society with the cause of the
citizens' needs at the Centre.
With the growing economy and a change in the demographic mix, more and more
people are getting engaged into commercial and financial activities and the need of
credit and other banking facilities has been on a tremendous rise. From personal
financial needs to the financial needs of small and medium size businesses to the
needs of big corporates, the Bank has been at the forefront of supporting the national
goal of bringing about prosperity in the lives of the citizens.
Starting with an initial paid-up capital of Rs. 259 million, the Bank has reached a
paid- up capital of Rs. 4.26 billion. In the journey of past 13 years, the Bank merged
with Jhimruk Bikas Bank Limited (FY 2073/74) and has acquired 2 more regional
level development banks in, Raptiveri Bikas Bank Limited (FY 2074/75) and Hamro
Bikas Bank Limited (FY 2075/76).
The Bank currently has 121 branches across the county including 3 extension
Counter. The Bank has also been providing services from network of ATM machines
(75) and is in the process of extending its reach through both branch and ATM
expansion apart from reaching the growing techno-friendly customers with wide
range of digital banking products.
Jyoti Bikash Bank has set a clear set of Purpose, Vision, Core values and business
strategy which truly reflects its utmost urge to serve the citizens of the Country
through all possible avenues.
Vision
To be established as an institution with the larger cause of citizens and society at the
center, delivering modern, informed and easy financial services by building upon best
practices of risk management and operation system.
Mission
Establishing a system of decision making through extraction and analysis of
information related of banking industry, having regard to the economic and social
dimensions prevalent in national and international context, ensure that dispersed
economic resources and tools are concentrated, mobilized and progressed towards
productive sector through optimal use of modern information technology; thus
 3

providing equitable return to stakeholders including customers, shareholders,

employees, society and the government while acting as a trustworthy financial
intermediary.
1.3. Objectives of The Study
The major purpose of this project work is to know the financial position of the bank.
It helps to get the information about various ratios in order to interpret the financial
statement so that the strength and weakness of the firm as well as its historical
performance and current financial condition can be determined. Analysis of financial
statements helps to examine efficiency and performance of an organization. Some
specific objectives are listed below:-
1. To examine financial ratios of JBBL.
2. To evaluate financial performance of JBBL on the basis of financial ratios.

1.4 Rationale
Optimum utilization of fund makes better impact on the economy of the nation. JBBL
is one of the governments owned national bank. So, it has been chosen for the study
with below limitations:
• Importance to shareholders.
• Importance to the management bodies of the bank for the evaluation of the
performance of bank.
• Importance to "outsiders" which are mainly the customers, financing agencies,
stock exchanges etc.
• Importance to the government bodies or the policy makers such as the central
bank
• Interested outside parties such as- investors, customers (depositors as well as
credit takers), and competitors, personnel of the banks, stockbrokers, dealers,
and market makers. So, this study helps to identify its unseen strength and
weakness regarding financial as well as credit administration.

1.5. Review
Literature review is the study of the available literature in one’s field of research. The
literature provides us with the knowledge of the status of their field of research. Past
study knowledge provides foundation to the present study. So, analyzing and
presenting the following parts define this chapter:
 4

1.5.1. Theoretical Review

Ahuja (2021), “Financial Performance analysis is a study or relationship among the
various financial factor in business a disclosed by a single set of statement and a study
of the trend of these fact as shown in a series of statements. By establishing a strategic
relationship between the item of a balance sheet and income statements and other
operative data, the financial analysis unveils the meaning and signification of such
items.” (source: internet)
Pandey (2019) has defined as “The finance statement provides a summarized view
of the financial operation of the firm. Therefore, something can be learnt about a firm
and careful examination of the financial statements as invaluable documents or
performance reports. Thus, the analysis of financial statement is an important aid to
financial analysis or ratio analysis which is a main tool of financial statement
analysis.
(source: internet)
According to Metcalf and Tatar (2016), “Financial Performance analysis is a process
of evaluating the relationship between components parts of a financial statement to
obtain a better understanding of a firm’s position and performance.” (source: internet)
Khan and Jain have defined that (2020) “The ratio analysis is defined as the
systematic use of ratio to interpret the financial performance so that the strength and
weakness of firm as well as its historical performance and current financial condition
can be determined.” (source: internet)
In the word of Horne (1994) “Financial ratio can be derived from the balance sheet
and the income statement. They must be analyzed on a comparative basis. Ratio may
also be judged in comparison with those of similar firms in the same line of business
and when appropriate, with an industry average and we can look to future progress
in this regard.” A comparative study of financial performance is a basic process,
which provides information on profitability, liquidity position, earning capacity,
efficiency in operation, sources and use of capital, financial achievement and status
of the companies. This information will help to determine the extent of efficiency and
effectiveness of the company in respect of deploying financial resources in the
profitable manner. (source: internet)
A tool used by individuals to conduct a quantitative analysis of information in a
company’s financial statements. Ratios are calculated from current year numbers and
are then compared to previous years, other companies, the industry, or even the
 5

economy to judge the performance of the company. Ratio analysis is predominately

used by proponents of fundamental analysis (Investopedia)
Almazari (2021) in his study attempted basically to measure the financial
performance of seven Jordanian commercial banks for the period 2005-2009, by
using simple regression in order to estimate the impact of independent variable
represented by; the bank size, asset management, and operational efficiency on
dependent variable financial performance represented by; return on assets and interest
income size. It was found that banks with higher total deposits, credits, assets, and
shareholders’ equity do not always mean that has better profitability performance.
Also found that there exists a positive correlation between financial performance and
asset size, asset utilization and 10 operational Efficiency, which was also confirmed
with regression analysis that financial performance is greatly influenced by these
independent factors. (source: internet)
Haque and Sharma (2020), their research studied the hypotheses tested imply that
there are significant differences amongst Saudi banks. The financial performance of
banks in Saudi Arabia is studied on the basis of financial variables and ratios through
the help of Spearman's' rank correlation method. Although, benchmarking
performance of banks is done using advanced linear programming models, this study
attempts to develop an efficiency frontier on the basis of simple linear regression.
Albeit certain restrictive assumptions, this study identifies Al Rajhi bank to be the
best bank to which other banks could look up to and justifies this model on the basis
of parsimony. (source: internet)
Almumani (2014) the purpose of his study is to analyze and compare the performance
of Saudi banks that listed in stocks market for the period 2007-2011. The study is an
evaluator in nature, drawing sources of information from secondary data. The
financial performance of banks is studied on the basis of financial ratios and
variables. Financial performance was measured by two approaches; trend analysis
and inter-firm analysis. It was found that increasing of assets, operating expenses,
and cost to income causes a decrease in Saudi bank’s profitability, while increasing
of operating income causes an increase in the profitability of Saudi Banks. Analysis
shows that all the variables of study have a positive mean value and all banks are
generating income. Saudi joint venture banks proved to be more proficient in
generating profits, absorbing loan losses and dominating in ROE, while, Saudi
established banks have more capacity of absorbing asset losses and dominating in
ROA. (source: internet)
 6

Kumal (2021) evaluated the financial performance of M/s Kumari Bank Limited, a
commercial bank in Nepal taking the period of three financial years in considerations,
from FY 2011/12 to FY 2012/13. The results showed that the financial position of
M/s Kumari Bank Limited is satisfactory and in good position. (source: internet)

1.5.2 Review of Previous Study

The several researchers have found various studies regarding financial performance
of commercial and joint venture banks. In this study, only relevant subject maters are
reviewed.
Oberholzer & Van der Westhuizen (2004) investigated the efficiency and
profitability of ten banking regional offices of one of South Africa's larger banks.
This study demonstrates how conventional profitability and efficiency analyses can
be used in conjunction with DEA. Although their study concentrated on banking
regions; their findings confirm those of Yeh (1996) that DEA results as an efficiency
measure have a relationship with both profitability and efficiency ratios. The
conclusions were that there are significant relationships between conventional
profitability and efficiency measures and allocative, cost and scale efficiency and no
significant relationship with technical efficiency. (source: internet)
Cronie (2007) who employed the DEA method and a sample of 13 South African
banks to provide a measure of the efficiency of the South African banks. His findings
show that out of the 13 banks, the three largest banks are efficient and serve as a
standard for the banks classified as inefficient. 9 The fourth largest bank showed a
slight inefficiency. Overall, seven banks were classified as inefficient and the article
recommends target areas for the banks to improve their efficiencies with guidelines
that bankers in inefficient banks could use to increase their sustainable profitability.
(source: internet)
UK where Drake (2001) & Webb (2003) found the larger banks less efficient. This
difference could be attributed to the differences in operating environment as South
Africa is an emerging economy with a different political and economic history
whereas UK is a developed country. (source: internet)
Ncube (2009) who uses the stochastic frontier model to analyze the cost and profit
efficiency of four large and four small South African banks. The results of the study
show that South African banks have significantly improved their cost efficiencies
between 2000 and 2005 with the most cost-efficient banks also being most profit
efficient. (source: internet)
 7

Mr. Upendra Kumar Poudel, in the article, “Present Condition of Financial

Companies” has presented with compared to the commercial bank, the interest rate is
relatively high that is provided and accepted by finance companies. The financial
companies should not be confined only in the valley. They should extend their
services to the rural sectors of hill and terai to reduce regional imbalance. The
collection of deposit and loan investment done by the commercial banks also, to
sustain themselves in the environment of competitions, they should introduce novel
technology and Equipment to collect deposits and investment. They should learn
from the draw backs, failure and success of commercial banks to effectively maintain
as alternative status. (source: internet)
Mr. Krishna Pradhan in the article, “Transaction Analysis of Financial Companies in
Nepal.” Has concluded that the finance companies are centered in the city as like
commercial banks. If this trend remains, the central bank is to consider novel strategy.
However, financial and banking transaction don’t take place in zero, it favors of
financial intermediaries. The emergence of closure of financial companies in market
economy in common sense. But keeping in mind, the social and economic structure
of four country, we should not turn a deaf ear to regional balance. (source: internet)
Bhatta (47th anniversary), In his article "Financial policies to Prevent Financial
Crisis", Nepal Rastra Bank Samachar, the author has suggested that the financial
markets have become an exciting, challenging and ever-changing sector in the recent
years. The emergence of global financial institutions as a result of increased
economic liberalization has raised a host of questions for financial planners and
policy makers. The growth of financial markets has caused complexities in the
management and if they are not managed and addressed properly with appropriate
policies, then the end result is the financial crisis. (source: internet)

1.6. Research Method

Research method is simply Refers to the process that is used to collect information
and data, which helps to collect reliable data and information from various sources in
order to prepare report writing.

1.6.1. Research Design

It is the conceptual structure within which the research is conducted. General
objective of this research is to examine and evaluate the financial performance of
joint venture bank especially that of Jyoti Bikash Nepal. In order to achieve this
 8

objective, descriptive research design has been followed. Also, the research is based
on historical research design (used of historical data for analysis).

1.6.2 Population and Sample

The population for this study comprises of 17 “B” class commercial banks currently
operating in the country. The sample consists of one judgmentally selected bank-
Jyoti Bikash Bank ltd.

1.6.3 Types of Data

There are two types of data: primary and secondary but the present study is based on
secondary data only. The necessary data is obtained from published Annual report
containing Statement Of financial position, Statement of Comprehensive Income and
other related statements of the bank. According to the need and objectives, secondary
data are compiled, processed and tabulated in time series. In order to judge the
reliability of data provided by the bank and other sources they were complied with
the annual reports of the bank. The data used in this study is mainly based on the
annual reports of Jyoti Bikash Bank ltd.

1.6.4 Methods of Data Collection

The study is based on secondary data from annual financial report of JBBL. It relies
on both published and unpublished report that relate to this study. The conclusion is
based on financial statement of JBBL.

1.6.5 Tools of Data Analysis

Data Analysis tools are those, that are used for the analysis and interpretation of
financial data. These tools are fruitful in exploring the strengths and weaknesses of
the financial policies and strategies. In the study various financial tools and statistical
tools have been used, which are as follows.

1.6.5.1 Financial Tools

Liquidity Ratios:
a. Cash and Bank Balance to Current & Saving Deposit Ratio.
The ratio shows the ability of banks’ immediate funds to cover their deposit. Higher
the ratio shows higher liquidity position and ability to cover the deposits and vice
 9

versa. The ratio is computed by dividing cash and bank balance by current and
saving deposits. It is calculated as:
Cash & bank to current & Cash and bank balance
Saving deposit ratio = saving deposits
b. Fixed Deposit to Total Deposit Ratio
The ratio shows what percentage of total deposit has been collected in form of fixed
deposit. High ratio indicates better opportunity available to the bank to invest in
sufficient profit generating long-term loans. Low ratio means bank should invest
the fund of low cost in short term loans. It is calculated as:
Fixed Deposit to Fixed deposit
Total Deposit Ratio = Total deposit

Profitability Ratios:
c. Return on Asset
The ratio is calculated by dividing net profit after tax by total on asset on the bank.
It is calculated as:

ROA = Net profit after tax

Total assets
Net profit refers to the profit deduction of interest and tax. A total asset means the
assets that appear in asset of balance sheet. It measures the efficiency of bank in
utilization of the overall assets. High ratio indicates the success of management in
overall operation. Lower ratio means insufficient operation of the bank.

d. Return on Net Worth

The ratio is computed by dividing net profit after tax by net worth. It is calculated
as:
RONW = Net profit after tax
Net worth
The ratio is tested to see the profitability of the owner's investment "reflects the
extent to which the objective of business is accomplished".
 10

e. Return on Total Deposit

The ratio is computed by dividing net profit after tax by total deposit. It is
calculated as:
ROTD = Net profit after tax
Total deposit
The ratio shows the relation of net profit earned by the bank with the total deposit
accumulated. High ratio is the index of strong profitability position.
Turnover Ratios:
f. Loan and Advanced to Total Deposit Ratio
The ratio is computed by dividing total loans and advances by total deposit
liabilities. It is calculated as:
Loan and Advanced to = Loan and Advanced
Total Deposit Ratio Total deposits

High ratio means the greater use of deposits for investing in loans and advances.
However, very high ratio shows poor liquidity position and risk in loans on the
contrary; too low ratio may be the causes of idle cash or use of fund less efficiently.

g. Investment to Total Deposit Ratio

The ratio obtained by dividing investment by total deposits collection in the bank.
It is calculated as:
Investment to Total Deposit Ratio = Investment
Total Deposit
The ratio shows how efficiently the major resources of the bank have been
mobilized. High ratio indicates managerial efficiency regarding the utilization of
deposits. Low ratio is the result of less efficiency in use of funds.

Other Ratios:
h. Earnings Per Share (EPS):
It is obtained by dividing earning available to common shareholders by number
of equities shares out-standing. It is calculated as:
EPS = Earning available to common equity
Number of Equity share outstanding
Earnings per share refers to the income available to the common shareholders on
per share basis, it enables us to compare whether the earning based on per share
 11

basis has changed over past period or not. The investors favor high EPS. It reflects
the sound profitability of the bank.

i. Price-Earnings Ratio:
P/E ratio is widely used to evaluate the bank's performance as expected by
investors. It measures how the market is responding towards the earning
performance of the concerned institution. High ratio indicates greater expectation
of the market towards the firm. It is calculated as:
P/E ratio = Market value per share
Earnings per share

1.6.5.2 Statistical Tools

a. Mean
Mean is the average of the given data and is calculated by dividing the sum of
given data by total number of observations. It is calculated as:
Mean = Sum of all the observations
Total number of observations

b. Standard Deviation
The standard deviation is a measure of the amount of variation of a random variable
expected about its mean.
S.D.= √ ∑ x2/ n − (∑ x /n) 2

c. Coefficient of Variance
C.V. = standard deviation
mean

1.7. Limitations of the Study

The major limitations of the study are as follows:
1. This study covered latest 5 years of data starting from 2075/76 to 2079/80.
2. This study used secondary source of data only.
3. Due to the use of secondary data the validity of this study depend upon the validity
of secondary data.
4. This study concerned with JBBL only therefore the results of the study should not
be generalized to others organization.
5. Out of the numerous variables only variables related with financial performance
were considered.
 12

CHAPTER TWO

RESULTS AND FINDING

2.1 Results
The report mainly focuses firm with its profitability, liquidity, turnover, EPS and PE
ratio. These are important tools used to measure financial performance of an entity.
In the Report, Profitability ratios are used to determine efficiency and performance.
Profitability ratio are two types: margins and return. Only relevant return type is used
in our report. It shows overall efficiency of firm in generating returns for its
shareholders. It provides stakeholder a measure to judge a company’s ability to make
profits and be considered a worthy investment. Liquidity ratio is used to measure
ability of bank to meet its short-term obligations. However, Higher ratio indicates
idle fund with the bank and inefficiency of its utilization. It hurts profitability and
financial performance of the bank. Turnover ratio is used as an indicator of the
efficiency with which the bank is using its assets to generate revenue. The higher
turnover ratio, the more efficient the bank is at generating revenue from its assets.
Conversely, if the bank has a low turnover ratio, it indicates it is not efficiently using
its assets to generate revenue.PE ratio is used in order to analyze whether the bank is
expected to perform well in future or not. It shows expectations of the investors in
the market toward the bank. High PE ratio indicates high expectations and hence high
growth potential. Low PE ratio may indicate low 16 market expectations or
sometimes.it is the case of undervaluation if measured in relative terms with peer
companies.

2.1.1 Liquidity Ratios:

Cash and Bank Balance to Current & Saving Deposit Ratio

The ratio is computed by dividing cash and bank balance by current and saving
deposits. It can be shown with the help of table below:
 13

Table 1 Cash and Bank Balance to Current & Saing Deposit Ratio

Year Cash and Bank Current plus saving Ratio

balance
2075/76 6,61,34,36,384 9,06,43,08,033 0.73
2076/77 6,05,56,98,599 10,59,80,93,852 0.57

2077/78 4,14,33,30,001 15,15,13,43,816 0.27

2078/79 9,83,51,83,011 12,66,17,33,934 0.78

2079/80 6,00,95,03,130 14,08,97,74,686 0.43

Mean 0.56

Standard 0.18
deviation
C.V. 32.14%
Noted from annual reports of JBBL

The highest ratio is 0.78 during the year 2078/79. The ratio shows decreases in
2077/78 and then increases in 2078/79. The increase in the ratio in the first year and
final year shows the increase in ability of the bank to meet short term obligations.
However short-term liquidity position is affected in year 2077/78. Highest ratio in
the year 2078/79 indicates idle cash and bank balance with the bank. Such idle cash
and bank hurts profitability and financial performance of the bank.
The average is 0.56 which is lower than 1. It means that JBBL has more total deposit
than cash and bank balance. In this situation, there is insufficient cash on hand to pay
off all the deposit of the customers. This may not be the bad news if the bank has the
condition to extend normal credit terms to the suppliers and very little credit extended
to its customers.
Similarly, the standard deviation of data analyzed is 0.18 which is very much lower
than the mean, it means that most of the numbers are close to the average. And cash
and bank balance and total deposit are less volatile.
Likewise, the CV shows the extent of variability of the data in relation to the mean
of the population. The CV obtained here is 32.14% percent which means that the ratio
of SD to mean is low. Lower the ratio of SD to mean, better the risk return trade off.
 14

0.9

cash and bank balance to current& saving

0.8

0.7

0.6

deposit ratio
0.5

0.4

0.3

0.2

0.1

0
2075\76 2076/77 2077/78 2078/79 2079/80
fiscal year

cash and bank balance to current & saving deposit ratio

Figure 1 : Cash and Bank Balance to Current & Saving Deposit Ratio

Fixed Deposit to Total Deposit Ratio

The ratio is computed by dividing fixed deposit by total deposits. It can be shown
with the help of table below:
Table 2 :Fixed Deposit to Total Deposit Ratio
Year Fixed deposit Total deposit Ratio
2075/76 12,66,59,92,368 25,99,52,00,700 48.72%
2076/77 21,31,75,15,659 36,31,36,30,527 58.70%
2077/78 28,33,37,74,824 49,55,75,61,243 35.61%
2078/79 35,82,38,47,690 53,57,23,92,701 66.87%
2079/80 41,45,42,82,764 61,06,26,56,869 67.89%
Mean 55.56%

Standard 12.12%
deviation
C.V. 21.81%
Noted from Annual reports of JBBL

The highest ratio is 67.89 percent during the year 2079/80. The ratio is in decreasing
trend from 2075/76 to 2076/77. The ratio is lowest in the year 2077/78 which is 35.61
percent. The trend indicates the portion of total deposit occupied by fixed deposit is
increasing then decreasing and then again increasing trend. The bank is not able to
lock funds in long term profitable investments.
 15

80.00%

70.00%

fixed deposit to total deposit

60.00%

50.00%

40.00%

30.00%

20.00%

10.00%

0.00%
2075/76 2076/77 2077/78 2078/79 2079/80
fiscal year

fixed deposit to total deposit

Figure 2: Fixed Deposit to Total Deposit Ratio

2.1.2 Profitability Ratios:

Return on Asset
The ratio is calculated by dividing net profit after tax by total on asset on the bank. It
can be shown with the help of table below:

Table 3: Return on Asset

Year NPAT Total Asset ROA
2075/76 53,13,41,553 36,45,99,41,714 1.46%
2076/77 48,84,56,209 42,36,11,01,622 1.15%
2077/78 66,38,69,529 60,17,43,80,893 1.10%
2078/79 67,85,78,215 71,25,66,09,378 1.95%
2079/80 31,80,30,373 72,67,49,49,581 0.44%
Mean 1.02%

Standard 0.33%
deviation
C.V. 32.35%
Noted from Annual reports of JBBL

In the first year the ratio of ROA was 1.46 percent. From 2076/77 to 207/78 it follows
decreasing trend. But in 2078/79 it increases to 1.95 and then in 2079/80 after
decreases to 0.44percent. The trendline in figure 3 show decreasing trend up to 3rd
 16

years and thereafter the trend increases in last year. The decrease in ROA during the
year 2077/78 shows inefficiency in utilization of assets of the bank. Further, the
performance of the management is less satisfactory in the year 2078/79 in comparison
to previous years.
The average is 1.02 percent which means that JBBL needs to increase the efficiency
of assets utilization to increase the earning.
Similarly, the standard deviation of data analyzed is 0.33 percent which is much
lower than the mean, it means that most of the numbers are close to the average. And
the volatility is lesser between the values.
Likewise, the CV shows the extent of variability of the data in relation to the mean
of the population. The CV obtained here is 32.35 percent which reveals that the ratio
of SD to mean is low. Lower the ratio of SD to mean, better the risk return trade off.

2.50%

2.00%
Return on asset

1.50%

1.00%

0.50%

0.00%
2075\76 2076/77 2077/78 2078/79 2079/80
fiscal year

Return on Asset

Figure 3: Return on Assets

Return on Net Worth/Return on Equity

The ratio is computed by dividing net profit after tax by net worth. It can be shown
with the help of table below:
Table 4: Return on Net Worth
Year 2.NPAT Net worth ROE
2075/76 53,13,41,553 4,00,69,21,000 13.26%
2076/77 48,84,56,209 4,50,40,08,000 10.84%
2077/78 66,38,69,529 5,24,58,54,000 12.66%
 17

2078/79 67,85,78,215 5,63,72,54,000 12.04%

2079/80 31,80,30,373 5,78,20,69,000 5.5%
Mean 10.86%

Standard 2.8%
deviation
C.V. 25.78%
Noted from annual report of JBBL

The return generated by the equity during the year 2075/76 is highest (13.26%) which
indicates better financial performance during the year. The return declined in the next
year to 10.74% and again increases in 2077/78 and then followed decreasing trend
from 2078/79 to 2079/80
The highest RONW during year 2075/76 indicates effectiveness of utilization of
funds contributed by equity including cumulative retained earnings. The bank ability
to covert equity funds into net profit (earnings) is found to be higher during the year
2075/76 and increasing from 2077/78 to 2079/80. It shows better financial
performance of the bank in terms of profitability during those years. However, there
is increase in RONW during the year 2077/78 and 2079/80.This shows volatility in
profitability indicating volatility in financial performance of the bank indicating
negative trend in return to shareholder’s equity.
The average is 10.86 percent which means that the return on shareholders fund is
10.86 percent of net profit on average.
Similarly, the standard deviation of the data analyzed is 2.8 percent which is lower
than the mean, it reveals that most of the numbers are close to the average. And the
net profit after tax and shareholders fund are less volatile.
Likewise, the CV represents the ratio of standard deviation to mean. The CV obtained
here is 25.78 percent which means that the ratio of standard deviation to mean is low.
Lower the ratio of standard deviation to mean, the better the risk return trade off. A
risk averse investor expecting low degree of volatility and high degree of return, in
relation to overall market and industry may want to invest in the bank.
 18

14.00%

12.00%

10.00%

return on equity
8.00%

6.00%

4.00%

2.00%

0.00%
2075/76 2076/77 2077/78 2078/79 2079/80
fiscal year

return on equity

Figure 4: Return on Equity

Return on Total Deposit

The ratio is computed by dividing net profit after tax by total deposit. It can be shown
with the help of table below:
Table 5: Return on Total Deposit
Year NPAT Total deposit ROTD
2075/76 53,13,41,553 25,99,52,00,700 2.04%
2076/77 48,84,56,209 36,31,36,30,527 1.35%
2077/78 66,38,69,529 49,55,75,61,243 1.34%
2078/79 67,85,78,215 53,57,23,92,701 1.27%
2079/80 31,80,30,373 61,06,26,56,869 0.52%
Mean 1.298%

Standard 0.48%
deviation
C.V. 36.98%
Noted from annual report of JBBL

The highest ratio is 2.04 percent during the year 2075/76. The return generated by
Total deposit follows decreasing trend from year 2076/77 to 2079/80. The chart in
figure 5 shows fluctuating return on total deposit especially during the year 2078/79
and 2079/80. It means the ability of banks total deposit to generate revenue or income
is moderate during those years. The decrease in the revenue generated by asset is
hurting profitability and hence performance of the bank is in increasing trend.
 19

The average is 1.298 percent which means that JBBL needs to increase the efficiency
of assets utilization to increase the earning.
Similarly, the standard deviation of data analyzed is 0.48 percent which is much
lower than the mean, it means that most of the numbers are close to the average. And
the volatility is lesser between the values.
Likewise, the CV shows the extent of variability of the data in relation to the mean
of the population. The CV obtained here is 36.98 percent which reveals that the ratio
of SD to mean is low. Lower the ratio of SD to mean, better the risk return trade off.

2.50%

2.00%
return on total deposit

1.50%

1.00%

0.50%

0.00%
2075/76 2076/77 2077/78 2078/79 2079/80
fiscal year

Return on total deposit

Figure 5: Return on Total Deposit

2.1.3 Turnover ratios:

Loan and Advances to Total Deposit Ratio:

The ratio is computed by dividing total loans and advances by total deposit
liabilities. It can be shown with the help of table below:

Table 6: Loan and Advance to Total Deposit

Year Loan and Total deposit Ratio
advances
2075/76 24,77,42,14,553 25,99,52,00,700 95.3%
2076/77 29,71,90,30,374 36,31,36,30,527 81.84%
2077/78 42,91,41,45,862 49,55,75,61,243 86.6%
2078/79 48,31,45,94,773 53,57,23,92,701 90.19%
2079/80 50,94,18,06,462 61,06,26,56,869 83.43%
 20

Mean 87.47%

Standard 4.85%
deviation
C.V. 5.54%
Noted from annual report of JBBL

The highest ratio is 95.3 percent during the year 2075/76. It decreases to 81.84
percent in the year 2076/77. After that ratio increases from year 2077/78 to 2078/79
and again decreases in 2079/80. The conversion of deposit into loans is in increasing
up to year 2077/78 and again decreases. The banks’ ability to attract and retain
customer is volatile over past five years. The bank is earning more from year 2077/78
to 2078/79. In total, the banks’ ability to cover unexpected withdrawals and loan
losses is not compromised.
The average of loan and advances to total deposit ratio is 87.47 percent which means
credit management of JBBL is in good position.
Similarly, the standard deviation of data analyzed is 4.85 percent which is lower than
the mean, it means that most of the numbers are close to the average. And the
volatility is lesser between the values.
Likewise, the CV shows the ratio of standard deviation to mean. The CV obtained
here is 5.54 percent which reveals that the ratio of SD to mean is low. Lower the ratio
of standard deviation to mean, the better the risk return trade off
100.00%
loan and advance to total deposit

95.00%

90.00%

85.00%

80.00%

75.00%
2075/76 2076/77 2077/78 2078/79 2079/80
fiscal year

loan and advance to total deposit

Figure 6: Loan and Advance to Deposit Ratio

 21

Investment to Total Deposit Ratio

The ratio obtained by dividing investment by total deposits collection in the bank. It
can be shown with the help of table below:

Table 7: Investment to Total Deposit Ratio

Year Investment Total deposit Ratio
2075/76 23,75,45,41,819 25,99,52,00,700 91.38%
2076/77 30,90,98,61,778 36,31,36,30,527 85.12%
2077/78 45,84,70,38,599 49,55,75,61,243 92.51%
2078/79 50,94,99,79,338 53,57,23,92,701 95.10%
2079/80 53,96,88,15,245 61,06,26,56,869 88.38%
Mean 90.498%

Standard 3.45%
deviation
C.V. 3.81%
Noted from annual report of JBBL

The highest ratio is 95.1 percent during the year 2078/79. The investment to total
deposit ratio is lowest in the year 2076/77 and it follows increasing trend from
2077/78 to year 2078/79. The bank is utilizing its deposit in the form of investment
in different sector in the first 4 years. However, there is less utilization of deposit in
investment activities of the bank during the last year.
The average of loan and advances to total deposit ratio is 90.498 percent which means
credit management of JBBL is in good position.
Similarly, the standard deviation of data analyzed is 3.45 percent which is lower than
the mean, it means that most of the numbers are close to the average. And the
volatility is lesser between the values.
Likewise, the CV shows the ratio of standard deviation to mean. The CV obtained
here is 3.81 percent which reveals that the ratio of SD to mean is low. Lower the ratio
of standard deviation to mean, the better the risk return trade off.
 22

96.00%

94.00%

investment to total deposit

92.00%

90.00%

88.00%

86.00%

84.00%

82.00%

80.00%
2075/76 2076/77 2077/78 2078/79 2079/80
fiscal year

investment to total deposit

Figure 7: Investment to Total Deposit

2.1.4 Other Ratios:

Earnings Per Share (EPS)

It is obtained by dividing earning available to common shareholders by number of
equities shares out-standing. It can be shown with the help of table below:
Table 8: Earning Per Share
Year EAE No. of share EPS
2075/76 531346598.9 3,10,00,385 17.14
2076/77 488292487.98 3,49,52,934 13.97
2077/78 664000897.56 3,84,48,228 17.27
2078/79 678572774.7 4,26,77,533 15.9
2079/80 317815320.57 4,39,57,859 7.23
Mean 14.302

Standard 3.73
deviation
C.V. 26.08%
Noted from Annual reports of JBBL

During the study of EPS, it is found that the EPS is in decreasing trend from 2075/76
to 2076/77 and after that in year 2077/78 reaches to peak. Afterward, it is continually
decreasing during the next two years 2078/79 to 2079/80. The earnings of each share
of the bank is in increasing trend. Since, EPS in its absolute term reflects very less
 23

about financial performance it is better suited and used with PE ratio as shown in the
next section.
The average is Rs. 14.302 which means that JBBL shows promising return in terms
of EPS in future.
Similarly, the standard deviation of data analyzed is Rs. 3.73 which is lower than the
mean, it means that most of the numbers are close to the average. And the volatility
is lesser between the values.
Likewise, the CV shows the extent of variability of the data in relation to the mean
of the population. The CV obtained here is 26.08 percent which reveals that the ratio
of SD to mean is medium.

20
18
16
14
Earning per share

12
10
8
6
4
2
0
2075/76 2076/77 2077/78 2078/79 2079/80
fiscal year

Earning per share

Figure 8: Earning Per Shares

Price-Earnings Ratio (P/E Ratio)

It is computed by dividing market price per share by earnings per share. It can be
shown with the help of table below:
Table 9: Price-Earnings Ratio
Year EPS MPS P-E ratio
2075/76 17.14 163 9.51
2076/77 13.97 166 11.88
2077/78 17.27 478 27.68
2078/79 15.9 302.2 19.25
2079/80 7.23 298 43.4
Mean 22.344
 24

Standard deviation 12.29

C.V. 55%
Noted from annual reports of JBBL

The ratio is in increasing trend from 2075/76 to 2077/78. After that, PE ratio
decreases to 19.25 times in the year 2078/79. The expectation of the market towards
the bank is in increasing trend during the first three years. However, the expectation
of market increases in the final year (2079/80). It shows growth potential of the bank
and expectations of the market.
The average is 22.344 which means that JBBL shows promising return in terms of
PE ratio in future. Similarly, the standard deviation of data analyzed is 12.29 which
is lower than the mean, it means that most of the numbers are close to the average.
And the volatility is lesser between the values. Likewise, the CV shows the extent of
variability of the data in relation to the mean of the population. The CV obtained here
is 55 percent which reveals that the ratio of SD to mean is medium.

50
45
40
35
30
P/E ratio

25
20
15
10
5
0
2075/76 2076/77 2077/78 2078/79 2079/80
fiscal year

P/E ratio

Figure 9: P/E Ratio

2.2 Major Findings of the Study

The major findings of the study have been summarized below:

• The Liquidity ratio (cash and bank to current & savings deposit ratio) is 0.78
during the year 2078/79. The ratio shows decreases in 2077/78 and then
increases in 2078/79. The increase in the ratio in the first year and final year
 25

shows the increase in ability of the bank to meet short term obligations. However
short-term liquidity position is affected in year 2077/78. Highest ratio in the year
2078/79 indicates idle cash and bank balance with the bank. Such idle cash and
bank hurts profitability and financial performance of the bank.
• The ROA of bank was in the first year the ratio of ROA was 1.46 percent. From
2076/77 to 207/78 it follows decreasing trend. But in 2078/79 it increases to 1.95
and then in 2079/80 after decreases to 0.44percent. The trendline in figure 3
show decreasing trend up to 3rd years and thereafter the trend increases in last
year. The decrease in ROA during the year 2077/78 shows inefficiency in
utilization of assets of the bank. Further, the performance of the management is
less satisfactory in the year 2078/79 in comparison to previous years.
• The ROE showing the return generated by the equity during the year 2075/76 is
highest (13.26%) which indicates better financial performance during the year.
The return declined in the next year to 10.74% and again increases in 2077/78
and then followed decreasing trend from 2078/79 to 2079/80. The highest
RONW during year 2075/76 indicates effectiveness of utilization of funds
contributed by equity including cumulative retained earnings. The bank ability
to covert equity funds into net profit (earnings) is found to be higher during the
year 2075/76 and increasing from 2077/78 to 2079/80. It shows better financial
performance of the bank in terms of profitability during those years. However,
there is increase in RONW during the year 2077/78 and 2079/80.This shows
volatility in profitability indicating volatility in financial performance of the
bank indicating negative trend in return to shareholder’s equity.
• On analyzing loan and advance to total deposit ratio it is observed that the highest
ratio is 95.3 percent during the year 2075/76. It decreases to 81.84 percent in the
year 2076/77. After that ratio increases from year 2077/78 to 2078/79 and again
decreases in 2079/80. The conversion of deposit into loans is in increasing up to
year 2077/78 and again decreases. The banks’ ability to attract and retain
customer is volatile over past five years. The bank is earning more from year
2077/78 to 2078/79. In total, the banks’ ability to cover unexpected withdrawals
and loan losses is not compromised.
• By analyzing Investment to Deposit ratios it is found that the highest ratio is
95.1 percent during the year 2078/79. The investment to total deposit ratio is
lowest in the year 2076/77 and it follows increasing trend from 2077/78 to year
2078/79. The bank is utilizing its deposit in the form of investment in different
 26

sector in the first 4 years. However, there is less utilization of deposit in

investment activities of the bank during the last year.
• By analysis of EPS, it is found that the EPS is in decreasing trend from 2075/76
to 2076/77 and after that in year 2077/78 reaches to peak. Afterward, it is
continually decreasing during the next two years 2078/79 to 2079/80. The
earnings of each share of the bank in increasing trend. Since, EPS in its absolute
term reflects very less about financial performance it is better suited and used
with PE ratio as shown in the next section.
• By analysis of PE ratio, the expectation of the market towards the bank is in
decreasing trend during the first four years. The ratio is in increasing trend from
2075/76 to 2077/78. After that, PE ratio decreases to 19.25 times in the year
2078/79. The expectation of the market towards the bank is in increasing trend
during the first three years. However, the expectation of market increases in the
final year (2079/80). It shows growth potential of the bank and expectations of
the market.
 27

CHAPTER THREE
SUMMARY AND CONCLUSION

3.1 Summary

The research work entitled financial performance analysis of Jyoti Bikash bank
limited. The research work should have reached the destiny where we satisfy with the
queries of research problems which were specified in the statement of the problem in
introductory chapter. To conduct the research work, the researcher consulted mainly
the secondary sources of data such as documents published by concerned bank.
Before presenting and analyzing the data, there was also need to review of related
books, prior research on the topic, Obviously, it helped the researcher to construct
conceptual framework and to analyze and interpret the secondary data according to
objective set forth previously. Then the research work was analyzed and interpreted
by financial tools such as profitability ratios, turnover ratios, liquidity ratios, EPS and
PE ratio. In this way, the researcher analyzed and presented the second chapter which
was the main body of the research work.
On the basis of data analysis and presentation, the researcher extracted some major
findings. It has been explained along with the data analysis and presentation. So, on
the basis of major findings the researcher reached in the conclusions keeping in the
previously set objectives in mind. To know the real performance of the bank, the
researcher observed and analyzed the performance analysis of the bank for five years
period. It is hoped that the financial performance analysis of the bank will give a
rational result and represent the overall banking scenario in terms of performance
analysis.

3.2 Conclusion

• By analyzing the liquidity ratio of JBBL, we can see that it is in fluctuating trend.
The bank is not maintaining stable liquidity position. It indicates short term
liquidity risk to meet short term obligations, which in turn hurts profitability.
Therefore, the performance of bank in terms of liquidity is not satisfactory over
different periods.
• The decrease in ROA over past five years indicates that the company is not making
enough income from the use of its assets. It may be due to low-income efficiency
and poor management. The bank is not using its total asset to generate maximum
 28

revenue. The rate of ROA indicated inefficient management at using its assets to
generate earnings. Therefore, the performance of bank in terms of ROA is not
satisfactory over different periods.
• By analyzing ROE, we can see that it is fluctuating over past five years. It means
the management team is not managing the equity properly that the shareholders
have contributed to the company. Therefore, the performance of bank in terms of
ROE is not satisfactory over different periods.
• By analysis of Loans and advances to Total deposit ratio, we can see that it is
volatile over past five years. This may hurt the banks’ ability to attract and retain
customer over long period of time. Therefore, the performance of bank is not
satisfactory over different periods.
• The EPS is gradually decreasing. However, the number of outstanding shares is
relatively similar over five years but there is fluctuation in net income of the bank.
It shows the company has to reduce fixed expenses to increase the net profit.
• By analysis of PE ratio, we can see that people are willing to pay less every year
up to 2018/19 for each rupee value of the stock. However, the expectation of
market increases in the final year (2019/20). It shows growth potential of the bank
and expectations of the market to be rising. Therefore, the performance of bank is
expected to rise in future.
• Report writing is very useful for reader to know about the financial statement of
Jyoti Bikash Bank limited. The case of the study is related with the profitability
position and the capital structure of the bank. The analysis of the presented data
will be helpful to know the financial strength of Jyoti Bikash bank limited. It is
hope that it will become the most suitable literature for future study.
• If in future same research is conducted, the researcher shall consider more ratios
which indicate the financial performance of bank.
• Through the current research, the investor can take decision about investment on
Development bank.
• By above analysis, the shareholders will know about the current position of JBBL
in terms of profitability, liquidity, Turnover and PE ratio.
• The above research can be a reference to stakeholders to know about the current
condition of other Development banks also.
 29

BIBLIOGRAPHY
Adhikari, D. &. (2012). Business Research Methods. kathmandu: Asmita Books
Publishers.
Ahuja. (2021). Financial performance Analyst.
Bhole, L. &. (2009). Financial Institutions and Markets(5th edition). New Delhi,
India : McGraw Hill.
Fabozzi, F. &. (2013). Foundation of financial market and institution(4th edition).
New delhi, india: Pearson New International.
Horne, V. J. (2005). Financial Management analysis(11th edition).
Khan, M. a. (1997). Management accountancy. New delhi: Mc Graw- Hill
Publishing company ltd.
pandey. (2019). Financial performance analyst.
Pandey, I. (2004). Financial statement analysis(9th edition). New delhi, india:
Vikas publishing house pvt. Ltd.
Saunders, A. &. (2019). Financial markets and institutions(7th edition). New York,
USA: McGraw hill.
tatar, M. a. (2016). financial performance analyst.
Van Horne, J.C. (2000). Financial management Policy( 11th edition). New delhi:
Patience Hall of india private limited.
Weston, J. &. (1972). Managerial Finance. New york, Holt saunders: International
editions.

websites
https://www.sc.com/np/
https://www.nrb.org.np
https://www.everest bank ltd.com
https://www.investopedia.com
https://www.simplilearn.com/financial-performance-rar21-article