Agricultural Dev Bank reports 134% rise in net profit to Rs 90.66 crore; CCD ratio at 82.97%

Agricultural Development Bank Limited (ADBL) has posted a 133.96% rise in its net profit in the ongoing fiscal year 2073/74. As per the unaudited quarterly financial statement published by the commercial bank today, its net profit has increased to Rs 90.66 crore, up from Rs 38.75 crore in the second quarter last year. Its deposit base has increased to Rs 87.65 arba from Rs 82.54 arba last year. In the same period, it has disbursed loans of Rs 87.05 arba, up from Rs 67.57 arba in the corresponding quarter last year. Its CCD ratio has reached 82.97%, which is above the maximum cap of 80% set by Nepal Rastra Bank. In the same period, its net interest income has increased by 28.35% to Rs 3.10 arba. Its paid up capital stands at Rs 10.37 arba with irredeemable preference shares worth Rs 5.43 arba and ordinary shares worth Rs 4.94 arba. It had recently issued 50% right shares, and has proposed 20% bonus shares for the FY 2072/73. After the capitalization of above right and bonus, its paid up capital will reach Rs 7.08 arba. As per NRB’s directive for the commercial bank to maintain its paid up capital (excluding the irredeemable preference shares of Nepal Government) to a minimum of Rs 8 arba by the end of FY 2073/74, ADBL will need to increase its capital by a further 13%. As of Q2 this year, its annualized EPS stands at Rs 29.49, net worth at Rs 284.42 per share, and P/E ratio at 18.38 times.