Century Commercial Bank published satisfactory Q2 financials; profit rises by 25.50% to Rs 65.02 crore; EPS stands at Rs 15.45

Wed, Feb 12, 2020 7:47 AM on Financial Analysis, Stock Market,
Century Co...

Century Commercial Bank Limited (CCBL) has published its second quarter report for the FY 2076/77 today with a satisfactory 25.50% rise in net profit. The bank’s profit has increased from Rs 51.81 crore in the second quarter of the fiscal year 2075/76 to Rs 65.02 crore in the second quarter of the fiscal year 2076/77. 

In the same quarter, the bank has Rs 42.30 crore as distributable profit after PL Appropriation and Regulatory Adjustments.

The bank’s deposit from customers has increased by meager 1.61% (compared to immediate previous year ending) to Rs 61.24 arba and loans and advances to customers increased by 4.52% (compared to immediate previous year ending) to Rs 59.50 arba till the second quarter. The net interest income (core business income) of the bank has increased by 14.07% to Rs 1.52 arba from Rs 1.33 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.41 arba with Rs 2.27 arba as its reserve and surplus. The Non-performing loan stands at 1.67%.

In the second quarter, the annualized EPS of the bank stands at Rs 15.45. The net worth per share stands at Rs 127 and qtr end PE ratio stands at 11.52 times.

Century Bank proposes 6.75% dividend for its shareholders for FY 2075/76 which is yet to be approved by AGM and adjusted in published Q2 report.

 Major Highlights:

 * Figure are of Immediate Previous Year Ending (Audited)

Particulars (In Rs '000)

Century Commercial Bank

Q2 2076/77

Q2 2075/76

Difference

Paid Up Capital*

8,415,472

8,415,472

0.00%

Share Premium*

34,369

34,369

 

Retained Earnings*

857,408

434,403

97.38%

Reserves*

1,380,141

1,150,948

19.91%

Deposits from Customers*

61,247,882

60,276,496

1.61%

Loans & Advances to Customers*

59,507,123

56,934,126

4.52%

Net Interest Income

1,527,861

1,339,359

14.07%

Fee and Commission Income

163,286

172,796

-5.50%

Impairment Charge/(Reversal)

53,359

153,016

-

Personnel Expenses

500,063

443,710

12.70%

Operating Profit

910,764

724,703

25.67%

Profit/(Loss) for the Year

650,287

518,168

25.50%

Total Comprehensive Income

652,199

517,304

26.08%

Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments

423,005

-

-

Capital Adequacy Ratio (CAR)

14.74

14.69

0.34%

NPL

1.67

0.84

98.81%

CCD (as per NRB Directives)

79.03

78.64

0.50%

Cost of Fund (%)

7.86

8.89

-11.59%

Base Rate (%)

10.35

11.5

-10.00%

Annualized EPS (In Rs.)

15.45

12.31

25.50%

Net Worth per Share (In Rs.)

127.00

119.25

6.50%

Qtr End PE Ratio (times)

11.52

-

-

Qtr End Market Price*

178

-

-

Price to Book (PB Ratio)

1.40

-

-