Garima Bikas Bank's FY 2082/83 Net Profit Jumps 35.34% to Rs. 1.68 Arba; EPS Climbs to Rs. 28.04

Garima Bikas Bank Limited (GBBL) has published its fourth-quarter financial results for FY 2082/83, reporting a robust improvement in profitability, driven by higher operating income and a sharp decline in impairment charges.

The development bank posted a net profit of Rs. 1.68 Arba, registering a 35.34% year-on-year increase from Rs. 1.24 Arba in the corresponding period last year. The growth was supported by a 5.64% rise in net interest income, which reached Rs. 3.81 Arba, compared to Rs. 3.61 Arba in FY 2081/82.

Customer deposits increased by 9.27% to Rs. 98.47 Arba, while loans and advances expanded by 13.18% to Rs. 78.24 Arba. Meanwhile, operating profit surged 42.65% to Rs. 2.58 Arba, supported by a 92.42% decline in impairment charges for loans and advances, which fell to Rs. 4.90 crore.

On the prudential front, the Capital Adequacy Ratio (CAR) stood at 13.63%. The Non-Performing Loan (NPL) ratio edged up slightly to 4.76% from 4.69% a year earlier, indicating a marginal deterioration in asset quality. However, the cost of funds improved, declining to 3.53% from 4.84%.

The bank reported an Earnings Per Share (EPS) of Rs. 28.04, while Net Worth Per Share increased to Rs. 177.26.

Report:

Major Financial Highlights

Particulars (In Rs '000) Garima Bikas Bank Limited
Q4 2082/83 Q4 2081/82 Difference
Paid Up Capital 6,021,348.37 5,680,517.33 6.00%
Share Premium 0.00 0.00 0.00%
Retained Earnings 1,217,961.83 599,214.09 103.26%
Reserves 3,433,931.84 2,983,522.50 15.10%
Deposit 98,472,073.23 90,115,629.86 9.27%
Loans & Advances  78,241,126.67 69,130,694.76 13.18%
Net Interest Income 3,815,635.15 3,612,067.16 5.64%
Personnel Expenses 1,247,879.35 1,110,598.01 12.36%
Impairment Charges 49,042.69 647,055.74 -92.42%
Operating Profit 2,580,142.37 1,808,689.91 42.65%
Net Profit 1,688,666.31 1,247,692.14 35.34%
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments  1,217,961.83 599,214.09 103.26%
Capital Adequacy (%) 13.63 13.20 3.26%
NPL (%) 4.76 4.69  
Cost of Fund (%) 3.53 4.84 -27.07%
EPS  (In Rs.) 28.04 21.96 27.68%
Net Worth per Share (In Rs.) 177.26 163.07 8.70%
Qtr end PE Ratio (times) 14.40 - -
Qtr End Market Price 403.8 - -