Deva Bikas Bank Limited (DBBL) has shown meager hike by 0.22% in net profit in the second quarter of the current fiscal year 2074/75. Its net profit hiked to Rs 14.06 crore in second quarter from Rs 14.03 crore in the corresponding quarter of the fiscal year 2073/74.
According to the unaudited financial report published by the development bank today, its net interest income has risen to Rs 31.48 crore in Q2 as compared to Rs 26.02 crore in the corresponding quarter.
It’s paid up capital remains at Rs 1.63 arba (inclusive of 17.1% bonus shares from the net profit of FY 2073/74) with Rs 60.08 crore in reserve.
DBBL has signed an agreement to acquire Sarlahi-based Sahara Bikas Bank Limited (SHBL). Deva Bikas Bank had also acquired Union Finance and Sajha Bikas Bank. After acquiring Union and Sajha, Deva Bikas Bank, as a national-level development bank, should increase its paid up capital to Rs 2.50 arba by the end of FY 2073/74.
After joint transaction with Sajha Bikas Bank and Union Finance, its paid up capital reached to Rs 1.88 arba. Moreover, DBBL has been seeking approval from SEBON to issue 40% right shares, after 40% right share issue, its paid up will reach to Rs 2.63 arba. (shareholder of Sajha and Union are also eligible for 40% right share)
Deposits collection reached to Rs 13.50 arba in Q2 and floated loans of Rs 11.88 arba.
Its non-performing loan has risen to 2.56 percent in Q2 up from 1.7 percent in the previous year report.
Its annualized earning per share (EPS) stand at Rs 17.23, Net worth per share at Rs 136.79 and P/E ratio at 10.27 times.
Major Highlights:
| Particulars (In Rs '000) |
DBBL |
| Q2 2074/75 |
Q2 2073/74 |
Difference |
| Paid Up Capital |
1,633,277 |
1,004,440 |
62.61% |
| Reserve & Surplus |
600,865 |
428,054 |
40.37% |
| Deposits |
13,509,741 |
9,071,979 |
48.92% |
| Borrowings |
- |
- |
#DIV/0! |
| Loans & Advances |
11,889,767 |
8,038,950 |
47.90% |
| Net Interest Income |
314,883 |
260,292 |
20.97% |
| Provision for possible losses |
27,557 |
(10,857) |
-353.82% |
| Operating Profit |
221,072 |
219,932 |
0.52% |
| Net Profit |
140,686 |
140,379 |
0.22% |
| NPL (%) |
2.56 |
1.7 |
50.59% |
| Annualized EPS (In Rs.) |
17.23 |
27.95 |
-38.37% |
| Net Worth per Share (In Rs.) |
136.79 |
142.62 |
-4.09% |
| P/E Ratio (In times) |
10.27 |
- |
- |
Q2 Report of DBBL:
