Ace development Bank Limited (ACEDBL) has posted a net profit rise by 16.72 percent in the third quarter of the fiscal year 2073/74.
As per the unaudited financial report for the third quarter published today, the development bank has stated that it has accumulated net profit of Rs 16.76 crore in the Q3 up from Rs 14.35 crore in the corresponding period of previous fiscal year report.
Its net interest income increased to Rs 34.72 crore in Q3 from Rs 29.17 crore in the corresponding quarter previous year. The bank has collected deposits of Rs 7.42 arba while it has mobilized loans and advances of Rs 6.97 arba in Q3. The deposit and loan amount stood at Rs 7.44 arba and Rs 6.53 arba respectively in the previous year corresponding quarter.
Ace Development Bank has a paid up capital of Rs 1.20 arba and reserve of Rs 37.93 crore.
The development bank has managed to reduce its non performing loan (NPL) from 3.32% in previous quarter to 1.60% in Q3. It’s Earnings per Share (annualized) remains at Rs 18.58 and net worth per share stands at Rs 131.53.
ACEDBL’s trading has been suspended in NEPSE since Shrawan 25, 2073 as it is in final process of acquisition by Nepal Investment Bank Limited. The share swap ratio for the acquisition has been set as 100:41 in which shareholders of ACEDBL that have 100 shares will get 41 shares of NIB.
Major Highlights of Ace Development Bank:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
1,203,023 |
1,000,402 |
20.25% |
| Reserve and Surplus |
379,305 |
306,509 |
23.75% |
| Deposits |
7,517,069 |
7,440,902 |
1.02% |
| Loans and Advances |
6,975,903 |
6,535,992 |
6.73% |
| Net Interest Income |
347,294 |
291,793 |
19.02% |
| Provision |
40,115 |
63,658 |
-36.98% |
| Write Back |
55,135 |
67,159 |
-17.90% |
| Operating Profit |
210,473 |
152,756 |
37.78% |
| Net Profit |
167,604 |
143,587 |
16.73% |
| Capital Adequacy Ratio |
17.07% |
15.05% |
- |
| NPL |
1.60% |
3.32% |
-51.81% |
| Cost of Fund |
6.67% |
4.81% |
|
| CD Ratio (as per NRB) |
79.09% |
78.09% |
- |
| EPS (Annualized) |
18.58 |
19.14 |
-2.93% |
| PE Ratio |
23.96 |
|
|
| Networth Per Share |
131.53 |
|
|
Likewise,
Karnali Bikas Bank Limited (KRBL) has registered a net profit growth of 148.07% in the third quarter of the current FY 2073/74.
According to the unaudited financial report published by the development bank today, its net profit has increased to Rs 38.03 lakh in third quarter, up from Rs. 15.33 lakh in the corresponding quarter of the previous fiscal year.
KRBL’s net interest income has risen to Rs 4.19 crore in Q3 as compared to Rs. 2.94 crore in the corresponding quarter of the last fiscal year.
As of Q3, it has a paid up capital of Rs 15.10 crore with a reserve of Rs 3.23 crore.
The bank also collected deposits of Rs 1.80 arba in Q3, up from Rs 1.61 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 96.91 crore in Q3 whereas in the same period last year, the figure stood at Rs. 83.13 crore.
Its NPL has increased to 4.72 percent in third quarter from 4.43 percent in previous year.
KRBL’s annualized Earnings per Share (EPS) stands at only Rs 2.52 per share, Net worth per share at 121.45 and P/E ratio at 160.01.
