Century Commercial Bank continues to report decline in net profit and increase in NPL even this quarter; Profit declined from Rs 91 crores to Rs 86 crores

Century Commercial Bank Limited (CCBL) has published its fourth quarter report for the FY 2075/76 with a decline in net profit by 5.63% even this quarter. In the last quarter, Century Commercial Bank’s profit had declined by approx. 9% due to high provision for loan losses.

The bank’s profit has decreased from Rs 91.22 crore in the fourth quarter of the fiscal year 2074/75 to Rs 86.08 crore in the fourth quarter of the fiscal year 2075/76. The banks profit declines mainly due to huge provision of possible losses (Impairment charges) of Rs 36.66 crore.

The bank’s deposit rises by meager 8.73% to Rs 57.99 arba whereas loans and advances have also increased by 7.74% to Rs 56.93 arba in the fourth quarter. The net interest income (core business income) of the bank has also increased by an outstanding 39.79% to Rs 2.67 arba from Rs 1.91 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.41 arba with Rs 1.03 arba as its reserve. The Non-Performing Loan (NPL) rises to 1.72% from 0.50%.

In the same quarter, the bank has Rs 53.51 crore as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders. In the fourth quarter, the annualized EPS of the bank stands at Rs 10.23. The net worth per share stands at Rs 120.80 and quarter end PE ratio stands at 16.12 times.