NMB Bank Sees 27.11% Growth in Q1 Net Profit, EPS at Rs 19.02, Distributable Profit at Rs 2.32 Arba

NMB Bank Limited has reported a notable 27.11% growth in net profit for the first quarter of FY 2083/84, reaching Rs 1.16 Arba compared to Rs 91.60 Crores in the corresponding quarter of the previous fiscal year. The bank's paid-up capital increased by 21.33% to Rs 22.29 Arba, while retained earnings rose by 30.98% to Rs 2.32 Arba and reserves increased by 4.11% to Rs 14.46 Arba.

During the quarter, total deposits grew by 2.18% to Rs 3.22 Kharba, while loans and advances increased by 3.54% to Rs 2.58 Kharba. Net Interest Income rose by 4.19% to Rs 2.59 Arba. Personnel expenses increased marginally by 2.52% to Rs 83.70 Crores, while impairment charges declined sharply by 29.66% to Rs 50.22 Crores. Operating profit surged by 26.17% to Rs 1.89 Arba.

The bank's distributable profit increased by 19.34% to Rs 2.32 Arba after profit/loss appropriation and regulatory adjustments. Its capital adequacy ratio stood at 12.53%, while the Non-Performing Loan (NPL) ratio increased to 4.92% from 4.58% in the corresponding period. The cost of funds declined significantly to 3.37% from 4.05%.

NMB Bank's Earnings Per Share (EPS) stood at Rs 19.02, compared to Rs 32.63 in the corresponding quarter, while net worth per share increased by 10.78% to Rs 187.03. The bank's quarter-end PE ratio stood at 14.32 times, with its quarter-end market price recorded at Rs 272.30 per share.

Report:

* Figures are of Immediate Previous Year Quarter Ending

Major Highlights:

Particulars (In Rs '000) NMB Bank Limited
Q1 2083/84 Q1 2082/83 Difference
Paid Up Capital 22,285,041.00 18,366,706.00 21.33%
8.25% Preference Share 3,000,000.00 - 0.00%
Paid Up Excluding Pref. Share 19,285,041.00 - 0.00%
Retained Earnings 2,319,136.00 1,770,596.00 30.98%
Reserves 14,464,405.00 13,893,305.00 4.11%
Deposit 322,000,882.00 315,118,455.00 2.18%
Loans & Advances  258,455,463.00 249,613,592.00 3.54%
Net Interest Income 2,591,564.00 2,487,253.00 4.19%
Personnel Expenses 836,999.00 816,429.00 2.52%
Impairment Charges 502,179.00 713,962.00 -29.66%
Operating Profit 1,890,636.00 1,498,463.00 26.17%
Net Profit 1,164,282.00 915,983.00 27.11%
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments  2,319,136.00 1,943,318.00 19.34%
Capital Adequacy (%) 12.53 12.07 3.81%
NPL (%) 4.92 4.58 7.42%
Cost of Fund (%) 3.37 4.05 -16.79%
EPS  (In Rs.) 19.02 32.63 -41.73%
Net Worth per Share (In Rs.) 187.03 168.83 10.78%
Qtr end PE Ratio (times) 14.32   -
Qtr End Market Price 272.3 - -