Civil Bank posts 421% net profit growth in Q2, thanks to NII of Rs 43.25 crore

ShareSansar, January 23:

Civil Bank Limited (CBL) has reported outstanding 420.76 percent net profit growth in the second quarter of this fiscal year 2071/72.

Publishing the unaudited report for the second quarter today, the commercial bank has stated that its net profit surged to Rs 17.69 crore up from Rs 3.39 crore in the corresponding quarter of the previous fiscal year 2070/71.

The profit was largely propelled by its net interest income of Rs 43.25 crore compared to Rs 23.69 crore of last fiscal year which is almost 83 percent growth. The increase in net interest income clearly signals that the banks were able to increase its core business activities.

Civil Bank able to collect Rs 23.54 arba in deposit and mobilized Rs 21.10 arba in loan and advances in the last fiscal year as compared to Rs 18.48 arba in deposit and Rs 15.29 arba in loan by the end of the previous fiscal year.

It was able to post an impressive profit even after provisioning Rs 3.22 crore for possible losses.

However, its non-performing loan has slightly increased from 1.45 percent to 1.93 percent.

Civil Bank annualized EPS now stands at Rs 13.15, per share net worth at Rs 120.24 and P/E ratio at 21.29 times.