Century Commercial Bank's growth remains stagnant; Profitability not affected as anticipated; Net Profit rises by 33.99%
Fri, Aug 14, 2020 1:50 PM on Company Analysis, Latest,
Century Commercial Bank Limited (CCBL) has published its fourth-quarter report for the FY 2076/2077 with an increase in Net Profit by 33.99%. The bank's net profit has increased from Rs. 67.64 crores in the fourth quarter of FY 2075/2076 to Rs. 90.63 crores in the fourth quarter of FY 2076/2077.
The bank has Rs. 40 Crores as a distributable profit after P/L appropriation and regulatory requirements in the fourth quarter. This means CCBL can distribute around 5% (approx.) dividend from the earnings of FY 2076/2077 if other regulatory requirements are not required.
The bank’s deposit from customers increased by 8.40% to Rs. 65.34 Arba whereas loans and advances to customers increased by a small 1.67% to Rs. 58.04 Arba till the fourth quarter. The Net Interest Income (core business income) of the bank has increased by 10.41% to Rs. 2.86 Arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital remains at Rs. 8.41 Arba with Rs. 2.25 Arba in Reserve and surplus. The Non-performing loan (NPL) has increased to 2.21% in this quarter.
The earnings per share (EPS) of the Bank stood at Rs. 10.77 and Net worth per share stood at Rs. 126.76. The company traded at P/E multiple of 15.32 times.
Major Highlights:
Particulars ('000) |
Century Commercial Bank Limited |
||
---|---|---|---|
Q4, 2076/2077 |
Q4,2075/2076 |
Difference |
|
Paid-up Capital |
8,415,472.00 |
8,415,472.00 |
- |
Share Premium |
34,369.00 |
34,369.00 |
- |
Retained Earnings |
682,103.00 |
533,853.00 |
27.77% |
Reserves |
1,535,104.00 |
1,008,620.00 |
52.20% |
Deposit from Customers |
65,340,392.00 |
60,276,496.00 |
8.40% |
Loans & Advances to Customers |
58,044,421.00 |
57,089,329.00 |
1.67% |
Net Interest Income |
2,862,001.00 |
2,592,042.00 |
10.41% |
Fee and Commission Income |
265,365.00 |
352,029.00 |
-24.62% |
Impairment Charge/(Reversal) |
534,597.00 |
574,325.00 |
- |
Personnel Expenses |
918,545.00 |
854,942.00 |
7.44% |
Operating Profit |
1,228,872.00 |
1,025,965.00 |
19.78% |
Profit/(Loss) for the Year |
906,323.00 |
676,408.00 |
33.99% |
Total Comprehensive Income |
927,199.00 |
672,124.00 |
37.95% |
Distributable Profit/(Loss) after P/L appropriation and Regulatory Adjustments |
400,092.00 |
- |
- |
Capital Adequacy Ratio (CAR) (%) |
14.53% |
14.27% |
- |
Non-Performing Loan (NPL) |
2.21% |
1.40% |
- |
CCD (as per NRB Directive) |
75.28% |
78.09% |
- |
Cost of Fund (%) |
6.94% |
8.19% |
- |
Base Rate (%) |
9.38% |
11.29% |
- |
EPS (Rs.) |
10.77 |
8.03 |
34.12% |
Net worth per share (Rs.) |
126.76 |
118.73 |
6.76% |
Qtr End PE Ratio (Rs.) |
15.32 |
- |
- |
Qtr End Market Price |
165.00 |
- |
- |
Price to Book (PB Ratio) |
1.30 |
- |
- |