Citizens posts 18.35% profit growth in Q2, Net Interest Income rises to Rs 61.55 crore
Mon, Jan 19, 2015 12:00 AM on Financial Analysis,
ShareSansar, January 19:
Citizens Bank International Limited has reported 18.35 percent net profit growth in the second quarter of the fiscal year 2071/72.
Publishing the unaudited report for the second quarter today, the commercial bank has stated that its net profit rises to 27.98 crore from Rs 23.64 crore in the corresponding quarter of the previous fiscal year 2070/71.
The profit was largely propelled by Rs 7.15 crore it was able to write back to the provision for possible losses even though its net interest income, too, surges from Rs 50.70 crore to Rs 61.55 crore in the review period.
Citizens collected Rs 30.91 arba in deposit and mobilized Rs 26.55 arba in loan in the last fiscal year as compared to Rs 24.18 arba in deposit and Rs 20.41 arba in loan by the end of the previous fiscal year second quarter.
It was able to post an impressive profit even after provisioning Rs 19.47 crore for possible losses.
However, its non-performing loan has slightly increased from 2.01 percent to 2.46 percent.
Citizens annualized EPS now stands at Rs 23.52 , per share net worth at Rs 127.64 and P/E ratio at 18.32 percent.
