Century Commercial Bank Limited (CCBL) has reported a 39.29% growth in net profit for the second quarter of the current fiscal year 2073/74.
Publishing the unaudited financial report for the second quarter today, the commercial bank’s net profit rose to Rs 22.39 crore in the second quarter of fiscal year 2073/74—up from Rs 16.07 crore reported in the corresponding quarter of the previous fiscal year 2072/73.
The bank has been able to collect deposits over Rs 32.67 arba, up 35% from Rs 24 arba last year. Likewise, it extended loans of Rs 29 arba, up from Rs 20.84 arba in the previous year.
It has a paid up capital of Rs 3.68 arba with a reserve of Rs 83.59 crore in Q2.
CCBL’s net interest income has risen from Rs 38.95 crore in the corresponding quarter last year to Rs 51.60 crore in the second quarter of fiscal year 2073/74.
It has posted an operating profit of Rs 32.74 crore in Q2 up from Rs 23.41 crore in corresponding quarters.
The commercial bank’s non-performing loan (NPL) has declined from 0.66% in the corresponding quarter to 0.47 % in Q2.
Its annualized Earning per Share (EPS) now stands at Rs 12.14, net worth per share at Rs 122.66 and P/E ratio at 27.51 times.
Century Commercial Bank Limited is in the process of acquiring Araniko Development Bank and Innovative Development Bank Limited. As per NRB’s directive, CCBL has to increase its paid up capital to Rs 8 arba by the end of the current FY 2073/74.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q2 |
FY 2072/73 Q2 |
Difference (%) |
| Paid Up Capital |
3,689,000.00 |
2,120,000.00 |
74.01% |
| Reserve and Surplus |
835,903.00 |
454,156.00 |
84.06% |
| Borrowings |
- |
- |
|
| Deposits |
32,675,764.00 |
24,077,116.00 |
35.71% |
| Loans and Advances |
29,016,085.00 |
20,843,996.00 |
39.21% |
| Net Interest Income |
516,019.00 |
389,567.00 |
32.46% |
| Provision |
81,563.00 |
50,074.00 |
- |
| Write Back |
31,595.00 |
16,768.00 |
- |
| Operating Profit |
327,418.00 |
234,198.00 |
39.80% |
| Net Profit |
223,936.00 |
160,764.00 |
39.29% |
| Capital Adequacy Ratio |
14.42% |
11.34% |
- |
| NPL |
0.47% |
0.66% |
-28.79% |
| Cost of Fund |
5.36% |
4.48% |
|
| CD Ratio |
78.28% |
78.67% |
|
| EPS (Annualized) |
12.14 |
15.17 |
-19.95% |
| PE Ratio |
27.51 |
|
|
| Networth Per Share |
122.66 |
|
|
