Birtamod based, Excel Development Bank Limited (EDBL) has posted growth of net profit with 13.77 percent for first quarter (Q1) in the FY 2074/75.
According to the published unaudited financial reports, the development bank lifted its net profit from Rs 2.77 crore in Q1 of the previous FY 2073/74 to Rs 3.15 crore in Q1 of the FY 2074/75.
Its deposit collection has reached to Rs 4.55 arba and has floated a loans of Rs 3.87 arba.
EDBL has paid up capital of Rs 38.45 crore in Q1 and its reserve has gone up from Rs 19.02 crore to Rs 37.06 crore. EDBL had issued 50% right shares after which its paid up capital will reach to Rs 57.67 crore.
EDBL had announced 30.12% bonus shares and 1.58% cash dividend to its shareholders from the net profit it had earned in the FY 2073/74. After 30.12% bonus, its paid up capital will reach to Rs 69.26 crore.
Excel Developement Bank Limited (EDBL) will be convening its 12th Annual General Meeting (AGM) on Mangsir 17, 2074. The AGM is going to be held at Hotel Holiday Home, Birtamode, Jhapa at 11:00 AM.
Its earning per share (EPS) stands at Rs 32.81. Its net worth per share is at Rs 196.39 with and the P/E ratio at 29.73 times.
Major Highlights:
| Particulars (In Rs '000) |
EDBL |
| Q1 2074/75 |
Q1 2073/74 |
Difference |
| Paid Up Capital |
384,563 |
307,650 |
25.00% |
| Reserve & Surplus |
370,676 |
190,220 |
94.87% |
| Deposits |
4,555,379 |
3,795,301 |
20.03% |
| Borrowings |
- |
460,000 |
-100.00% |
| Loans & Advances |
3,872,826 |
3,307,906 |
17.08% |
| Net Interest Income |
67,117 |
68,352 |
-1.81% |
| Provision for possible losses |
6,011 |
14,232 |
-57.76% |
| Operating Profit |
40,629 |
38,986 |
4.21% |
| Net Profit |
31,542 |
27,724 |
13.77% |
| NPL (%) |
1 |
1.54 |
-35.06% |
| Annualized EPS (In Rs.) |
32.81 |
36.05 |
-8.98% |
| Net Worth per Share (In Rs.) |
196.39 |
161.83 |
21.36% |
| P/E Ratio (In times) |
29.73 |
- |
- |
Deva Bikas Bank Limited (DBBL) has shown decrease in net profit by 36.13% in the first quarter of the FY 2074/75.
As per the unaudited financial report, its net profit now stands at Rs 3.23 crore. Likewise, Its operating income has also decreased by 35.69 % to Rs 5.08 crore.
As of Q1, Deva Bikas Bank’s deposit base stands at Rs 11.35 arba. Out of this, it has floated loans of Rs 10.16 arba.
Its non-performing loan decreased to 1.79% in Q1 from 3.44 % last year.
Its paid up capital now stands at Rs 1.44 arba and after issuance of 17.1% bonus share its capital will reach Rs 1.69 arba. The bank’s reserve and surplus rises by 64.75% to Rs 50.87 crore in Q1 from Rs 30.88 crore in the corresponding quarter.
Its earning per share (EPS) stands at Rs 8.96, net worth per share at Rs 135.21 and P/E ratio at 28.45 times.
Recently, DBBL has signed an agreement to acquire Sarlahi-based Sahara Bikas Bank Limited (SHBL). With this acquisition, Deva Bikas Bank is now acquiring a total of 3 BFIs. Deva Bikas Bank is also under process for acquiring
Union Finance and
Sajha Bikas Bank. After acquiring Union and Sajha, Deva Bikas Bank, as a national-level development bank, should increase its paid up capital to Rs 2.50 arba by the end of FY 2073/74. Share swap ratio of Deva, Sajha and Union is 100:100:50.
After joint transaction with Sajha Bikas Bank and Union Finance, its paid up capital will reach to Rs 1.88 arba. Moreover, DBBL has already endorsed 40% further right share issue, after which paid up will reach to Rs 2.63 arba. (shareholder of Sajha and Union are also eligible for 40% right share)
Major Highlights:
| Particulars (In Rs '000) |
Deva Bikas Bank (DBBL) |
| Q1 2074/75 |
Q1 2073/74 |
Difference |
| Paid Up Capital |
1,444,984 |
881,088 |
64.00% |
| Reserve & Surplus |
508,784 |
308,816 |
64.75% |
| Deposits |
11,353,036 |
7,968,642 |
42.47% |
| Borrowings |
- |
300,000 |
-100.00% |
| Loans & Advances |
10,168,972 |
6,744,327 |
50.78% |
| Net Interest Income |
120,652 |
117,160 |
2.98% |
| Provision for possible losses |
41,040 |
4,078 |
906.38% |
| Operating Profit |
50,867 |
79,093 |
-35.69% |
| Net Profit |
32,377 |
50,695 |
-36.13% |
| NPL (%) |
1.79 |
3.44 |
-47.97% |
| Annualized EPS (In Rs.) |
8.96 |
23.01 |
-61.06% |
| Net Worth per Share (In Rs.) |
135.21 |
135.05 |
0.12% |
| P/E Ratio (In times) |
28.45 |
- |
- |
