Citizens Bank International published its Q3 report with growth in major indicators; EPS at Rs. 17.67, NPL at 1.83%

Citizens Bank International Limited (CZBIL) has published its third-quarter report for the FY 2077/78 with a rise in net profit by 41.61%.

The bank’s profit has increased from Rs 1.09 arba in the third quarter of the fiscal year 2076/77 to Rs 1.54 arba in the third quarter of the fiscal year 2077/78. In the same quarter, the bank has Rs 1.34 arba as distributable profit after PL Appropriation and Regulatory Adjustments.

Citizens Bank begins joint transaction after acquiring Tinau Mission development Bank. The growth in Q3 is also contributed due to the inclusion of financials of Tinau Mission Development Bank.

As per the management, the bank has preceded its proposal for the merger and acquisition of "D" class financial institution; Srijana Finance Limited to Nepal Rastra Bank.

The bank’s deposits from customers have a growth rate of 43.68% (compared to the immediate previous year ending) to Rs 1.27 kharba and loans and advances to customers have increased by 37.92% (compared to the immediate previous year ending) to Rs 1.08 kharba in the third quarter.

The net interest income of the bank has increased by 13.19% to Rs 2.54 arba from Rs 2.24 arba of the corresponding quarter.

The bank’s paid-up capital stands at Rs 11.66 arba with Rs 5.46 arba as its reserve and surplus.

The Non-Performing Loan (NPL) has increased to 1.83% from 0.97%.

The annualized EPS of the bank stands at Rs 17.67. The net worth per share stands at Rs 146.87. The company traded at a P/E ratio of 18.45 times.

Click here for Q3 report:

Financial Highlights:

(NOTE: The numbers include combined figures from Citizens Bank International Limited and Tinau Mission Development Bank Limited after the merger between the two.)