Citizens Bank’s Net Profit Surges 63.05% to Rs. 2.09 Arba, EPS Jumps 55.29% to Rs. 13.53

Citizens Bank International Limited (CZBIL) has reported a 63.05% increase in net profit in the fourth quarter of fiscal year 2082/83, with profit rising to Rs. 2.098 Arba from Rs. 1.29 Arba in the corresponding quarter of the previous fiscal year.

The bank’s paid-up capital increased by 5% to Rs. 15.50 Arba from Rs. 14.76 Arba a year earlier. Retained earnings, however, declined 32.78% to Rs. 52.31 Crores from Rs. 77.81 Crores. Meanwhile, reserves increased by 19.74% to Rs. 8.86 Arba.

Citizens Bank’s customer deposits grew 9.57% to Rs. 2.31 Kharba from Rs. 2.11 Kharba in Q4 FY 2081/82. Loans and advances increased marginally by 0.76% to Rs. 1.70 Kharba, compared to Rs. 1.68 Kharba in the previous fiscal year.

The bank’s net interest income declined slightly by 1.90% to Rs. 6.29 Arba from Rs. 6.41 Arba. Personnel expenses increased 20.13% to Rs. 2.44 Arba.

Impairment charges declined by 69.05% to Rs. 82.93 Crores from Rs. 2.68 Arba a year earlier. The lower impairment provision supported a significant improvement in operating performance, with operating profit surging 81.26% to Rs. 3.60 Arba from Rs. 1.99 Arba.

The bank’s capital adequacy ratio remained unchanged at 12.47%. However, its non-performing loan (NPL) ratio increased to 5.88% from 4.89%, indicating a rise in non-performing assets.

The cost of funds declined significantly by 25.17% to 3.36% from 4.49% in the previous fiscal year, reflecting a reduction in the bank’s funding costs.

Citizens Bank’s earnings per share (EPS) increased 55.29% to Rs. 13.53 from Rs. 8.71. Net worth per share rose 3.31% to Rs. 160.51 from Rs. 155.38.

At the end of the quarter, the bank’s price-to-earnings (P/E) ratio stood at 14.55 times, while its quarter-end market price was recorded at Rs. 196.90 per share.

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