Despite of Rs 3.23 arba for staff expenses Agricultural Dev Bank earns Rs 2.57 arba in Q4

Agricultural Development Bank Limited (ADBL) has earned net profit of Rs 2.57 arba for the fourth quarter of the last fiscal year 2072/73.The net profit dwindled by 28.47% in Q4. The figure stood at Rs 3.60 arba in the corresponding quarter of the previous fiscal year. As per the unaudited financial report for the fourth quarter published today, the commercial bank has net interest income of Rs 6.18 arba in Q4 increasing from Rs.5.64 arba in the corresponding quarter previous fiscal year. Last year the bank had collected huge amount of write back Rs 3.51 arba, which helped in the massive increment in its profit. However in this fiscal year, the bank has managed only write back of Rs 62.37 crore in this quarter. Agricultural Development Bank’s paid up capital remains at Rs.10.37 arba (public share of Rs.3.93 arba and irredeemable preference shares of Rs.6.43 arba) with reserve and surplus of Rs 8.38 arba in Q4. The commercial bank has amassed huge deposit collection of Rs. 87.26 arba in Q4 compared to Rs.77.03 arba in the corresponding quarter of the previous fiscal year. Likewise, it has disbursed loans of Rs 79.75 arba. The figure stood at Rs 68.57arba in the previous year corresponding quarter. The bank has an operating profit of Rs 2.68 arba in Q4 compared to Rs 58.37 crore in the corresponding quarter of the previous fiscal year. The staff expenses of the bank have increased to Rs 3.23 arba from Rs 2.87 arba in this quarter. The commercial bank’s NPL dropped to 3.85% from 5.35% in Q4. ADBL’s annualized EPS stands at Rs. 55.64, net worth per share at Rs. 303.15, and P/E ratio at 13.80 times.