Despite 42% increment in both deposits and loans Excel Dev. Bank net profit rises by meager 3%; Cost of funds stand at 7.77%
Thu, May 2, 2019 8:02 AM on Financial Analysis, Latest, Stock Market,
Birtamode based, Excel Development Bank Limited (EDBL) has posted meager increase of net profit by 2.97 percent for third quarter (Q3) in the FY 2075/76.
According to the published unaudited financial reports, the development bank reported an increase in its net profit from Rs 11.11 crore in Q3 of the previous FY 74/75 to Rs 11.44 crore in Q3 of the FY 2075/76.
It’s deposit rises by 42.31% to Rs 6.46 arba while the loans and advances also rises by 42.02% to Rs 5.98 arba. Despite outstanding rise in deposits and loans in the review period there is no such increment seen on net profit due to rise in cost of funds (interest cost) and provision of possible losses.
EDBL has paid up capital of Rs 69.26 crore till Q3 of FY 2075/76 and its reserve and surplus stands at Rs 25.98 crore.
EDBL’s annualized earning per share (EPS) is at Rs 22.03 from Rs 21.69 in the corresponding quarter.
Its net worth per share is at Rs 137.52 and the P/E ratio at 13.02 times.
Major Highlights:
|
Particulars (In Rs '000) |
Excel Development Bank |
||
|---|---|---|---|
|
Q3 2075/76 |
Q3 2074/75 |
Difference |
|
|
Paid Up Capital |
692,673.98 |
692,673.97 |
0.00% |
|
Reserve & Surplus |
259,885.22 |
222,841.69 |
16.62% |
|
Deposits |
6,465,626.74 |
4,543,347.29 |
42.31% |
|
Borrowings |
300,000.00 |
- |
- |
|
Loans & Advances |
5,986,635.70 |
4,215,136.83 |
42.03% |
|
Net Interest Income |
271,885.96 |
234,854.57 |
15.77% |
|
Provision for possible losses |
51,996.13 |
23,685.10 |
- |
|
Operating Profit |
162,437.88 |
152,383.15 |
6.60% |
|
Net Profit |
114,429.51 |
111,129.46 |
2.97% |
|
Capital Adequacy (%) |
15.37 |
9.31 |
65.09% |
|
NPL (%) |
1.40 |
1.78 |
-21.35% |
|
CCD Ratio (%) |
79.25 |
77.55 |
2.19% |
|
Cost of Fund (%) |
7.77 |
5.81 |
33.73% |
|
Annualized EPS (In Rs.) |
22.03 |
21.39 |
2.97% |
|
Net Worth per Share (In Rs.) |
137.52 |
132.17 |
4.05% |
|
PE Ratio (times) |
13.02 |
- |
- |
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