Citizens Bank registers impressive profit growth of 52.37% in Q4; reserve increased to Rs 1.72 arba

Citizens Bank International Limited (CZBIL) has posted   net profit rise by 52.37 percent in the fourth quarter (Q4) of the fiscal year 2072/73. As per the unaudited report for the fourth quarter published today, the bank’s net profit surged to Rs 1.09 arba in the fourth quarter of fiscal year 2072/73, up from Rs 72.03 crore reported in the same quarter of the fiscal year 2071/72. In the fourth quarter, Citizen’s net interest income has risen to Rs 1.62 arba, up from Rs 1.26 arba in the previous corresponding quarter. CZBIL’s write back to provision for possible loss increased by 82 percent to Rs 43.18 crore from Rs 23.73 crore in Q4. The bank has collected Rs 47.39 arba in deposits and disbursed Rs 40.56 arba in loans as compared to Rs 35.78 arba in deposits and Rs 29.19 arba in loans in the corresponding quarter last year. CZBIL has paid up capital of Rs 3.65 arba with reserve of Rs 1.72 arba. The commercial bank CD ratio stands at 77.74% and non-performing loan (NPL) dropped to 1.31% from 1.53% in Q4. Its Earning per Share (EPS) stands at Rs 35.56, net worth per share is at Rs 175.28 and P/E ratio at 19.12 times.