Citizens Bank registers impressive profit growth of 59.18% in Q3 as write back doubles; Reserve surges by 67.70%

Citizens Bank International Limited (CZBIL) has reported 59.18 percent rise in profit for the third quarter (Q3) of the fiscal year 2072/73. As per the unaudited report for the third quarter published today, the bank’s net profit surged to Rs 72.88 crore in the third quarter of fiscal year 2072/73, up from Rs 45.78 crore reported in the same quarter of the fiscal year 2071/72. In the third quarter, Citizen’s net interest income has risen to Rs 1.16 arba, up from Rs 94.45 crore in the corresponding quarter. CZBIL’s write back to provision for possible loss rose to Rs 25.52 crore from Rs 12.45 crore in the corresponding quarter. The bank has collected Rs 44.37 arba in deposits and disbursed Rs 37.84 arba in loans as compared to Rs 34.79 arba in deposits and Rs 28.74 arba in loans in the corresponding quarter last year. The commercial bank CD ratio stands at 77.95% and non-performing loan (NPL) is at 1.78% in Q3. The bank’s paid up capital remains at Rs 3.06 arba. The bank reserve and surplus increased to Rs.1.40 arba in Q3 up from Rs 83.56 crore in last quarter, rises by 67.70 percent. Its Earning per Share (EPS) stands at Rs 31.53, net worth per share is at Rs 145.65 and P/E ratio at 23 times.