Civil Bank publishes first financial report after merger with International Leasing and Finance company; net profit up a meager 9%

Civil Bank Limited (CBL) has published its first quarterly report after its merger with International Leasing and Finance Company (ILFC). As per the unaudited financial report, its net profit has increased slightly to Rs 17.14 crore in the second quarter this FY 2073/74 from Rs 15.74 crore in the corresponding quarter last year. Its deposit base stands at Rs 32.93 arba with loans worth Rs 29.50 arba. In the same quarter last year, its deposit stood at Rs 26.93 arba with loans of Rs 23.04 arba. Its net interest income has increased around 50.5% to Rs 54.93 crore from Rs 36.49 crore posted last year. Its CD ratio has reached 79.07%. It had incurred an operating loss of Rs 14 crore in the first quarter this year, but has managed to post an operating profit of Rs 2 lakh until the end of second quarter. However, its provision for loss has increased 168% in this period. Its non-performing loan (NPL) stands at 4.45%. After the merger with ILFC, its paid up capital has reached Rs 4.58 arba with reserve of Rs 1.42 arba. Its annualized EPS stands at Rs 7.3, net worth per share at Rs 131.15 and P/E ratio at 34.42 times. It is under process of acquiring Unique Finance Limited and Hama Merchant and Finance Limited.