Araniko Development Bank operating profit surges by 125.8%, Net profit up by 41.17% to Rs 5.06 crore; NPL down to 0.67

- ShareSansar, April 21, 2017  on Featured , Financial Analysis , Latest , Stock Market

Arniko Development Bank Limited (ARDBL) has posted a net profit growth of 41.17 percent in the third quarter (Q3) of the current fiscal year 2073/74. A huge rise of 125.8% was seen in the operating profit.

As per the quarterly report published by the development bank today, the bank has earned net profit of Rs 5.06 crore in the third quarter of the fiscal year 2073/74 up from Rs 3.58 crore in the corresponding period of the previous fiscal year 2072/73.The operating profit increases to 6.05 from Rs 2.65 crore as compared to the corresponding quarter of last fiscal year

The bank’s net interest income surged to Rs 9.31 arba in the Q3, from Rs 6.69 crore in the corresponding quarter of the previous fiscal year.

The paid up capital of the bank remains at Rs 39.44 crore. The bank reserve and surplus increased to Rs 9.86 crore in Q3 up from Rs 6.51 crore in last quarter, increase of 51.44 percent was seen.

The bank has collected Rs. 2.24 arba in deposits in Q3 up from Rs 1.88 arba in the same quarter of previous year. Its loan and advances boosted to Rs 2.06 arba in the current fiscal year up from Rs 1.71 arba  in the corresponding period of the previous fiscal year.

ARDBL non-performing loan has dropped from 1.84% in the corresponding period of the fiscal year 2072/73 to 0.67% in third quarter of the fiscal year 2073/74.

Its Earning per Share (EPS) stood at Rs 17.13 and net worth per share is at Rs 125.02.

The credit to deposit ratio (CD ratio) of the bank stands at 76.16 percent.

ARDBL’s trading has been suspended in NEPSE since Kartik 1, 2073 following the acquisition process with Century Commercial Bank at a swap ratio of 95%.

Major Highlights:

Indicators (Rs in “000”)FY 2073/74 Q2FY 2072/73 Q2Difference (%)
Paid Up Capital394,481257,83153.00%
Reserve and Surplus98,68665,16451.44%
Loans and Advances2,068,5641,719,80820.28%
Net Interest Income93,15266,93539.17%
Write Back19,13529,627-35.42%
Operating Profit60,50026,785125.87%
Net Profit50,67735,89941.17%
Capital Adequacy Ratio20.1715.0534.02%
Base Rate
Cost of Fund6.916.73
CD Ratio (as per NRB)76.1678.43
EPS (Annualized)17.13
PE Ratio
Networth Per Share125.02