Agricultural Development Bank Limited (ADBL) has posted a net profit rise of 29.80% in the third quarter of the fiscal year 2073/74.
As per the unaudited report, its net profit has increased to Rs 1.57 arba, up from Rs 1.21 arba in the same period last year. While its paid up capital has increased by 80% in this period, its net profit did not increase with the same proportion—resulting in a decreased Earnings Per Share (EPS). As of the end of Q3, its EPS has shrunk to Rs 29.63. ADBL had issued 50% right share and 20% bonus share to its shareholders in the FY 2072/73.
ADBL’s operating profit, however, has increased by a whopping 165.25% to Rs 1.81 arba. With a possible loss provision of almost Rs 93 crore, most of the operating profit could not convert to net profit. Its net interest income up to the end of Q3 has reached Rs 5.15 arba.
As of the end of Q3, its deposit base has reached a whopping Rs 89.53 arba with floated loans of Rs 88.68 arba. Its CCD ratio stands at 69.34%.
ADBL’s paid up capital now stands at Rs 7.08 arba, reserve at Rs 8.68 arba and net worth per share at Rs 222.58.
As per NRB’s requirement for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, ADBL should hike its capital by Rs 91.23 crore (around 12.90%).
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
7,087,680 |
3,937,600 |
80.00% |
| Reserve and Surplus |
8,687,998 |
7,063,413 |
23.00% |
| Deposits |
89,530,488 |
83,514,232 |
7.20% |
| Loans and Advances |
88,688,560 |
74,275,587 |
19.40% |
| Net Interest Income |
5,151,590 |
3,634,674 |
41.73% |
| Provision |
928,923 |
1,007,419 |
-7.79% |
| Write Back |
394,063 |
931,094 |
-57.68% |
| Operating Profit |
1,815,659 |
684,520 |
165.25% |
| Net Profit |
1,574,804 |
1,213,242 |
29.80% |
| Capital Adequacy Ratio |
17.38% |
13.19% |
- |
| NPL |
3.30% |
4.89% |
-32.52% |
| Cost of Fund |
5.60% |
4.68% |
|
| CD Ratio (as per NRB) |
69.34% |
75.65% |
- |
| EPS (Annualized) |
29.63 |
41.08 |
-27.89% |
| PE Ratio |
19.98 |
|
|
| Networth Per Share |
222.58 |
|
|
