Century Bank registers the profit growth of 110%, writes back Rs 2.89 crore

ShareSansar, August 15:

Century Commercial Bank Ltd (CCBL) has posted an impressive profit rise of 110 percent in the fourth quarter of the last fiscal year 2070/71.

According to the unaudited financial results of the bank published today, it earned Rs 13.95 crore of net profit in the last fiscal year, up from Rs 6.64 crore in the corresponding period of the previous fiscal year 2069/70.

The net interest income of the bank increased to Rs 42.78 crore from Rs 30.84 crore in the previous year.

The write back of Rs 2.89 crore from the amount that the bank had earlier set aside for possible loss also helped in the surge of its net profit.

CCBL also provisioned Rs 12.81 crore last year for the possible loss.

At the end of fourth quarter, the bank has Rs 15.05 arba of loans and Rs 18.4 arba of deposits which is 65 percent and 61 percent growth respectively as compared to the corresponding quarter of previous year.

Non performing ration of the bank remains at 0.5 percent for this quarter end.  

Its EPS stands at Rs 6.98, P/E ratio 47.65 times and net worth per share Rs 111.86.