Everest Bank earning rises by 9.08% to Rs 69.08 crore in Q1; company announces 25% dividend for FY 2075/76
Thu, Nov 14, 2019 6:41 AM on Financial Analysis, Stock Market, Latest,
Everest Bank Limited (EBL) has published its first quarter report for the FY 2076/77 today with 9.08% rise in net profit.
The bank’s profit has increased from Rs 63.33 crore in the first quarter of the fiscal year 2075/76 to Rs 69.08 crore in the first quarter of the fiscal year 2076/77. In the same quarter, the bank has Rs 30.84 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 12.41% (compared to immediate previous year ending) to Rs 1.34 kharba and loans and advances to customers increased by 12.81% (compared to immediate previous year ending) to Rs 1.09 kharba in the first quarter. The net interest income (core business income) of the bank has increased by 9.30% to Rs 1.43 arba from Rs 1.31 arba of the corresponding quarter.
Major Highlights:
* 2075/76 figure are of Immediate Previous Year Ending.
* Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q1 end paid up capital.
The bank’s paid up capital stands at Rs 8.10 arba with Rs 10.22 arba as its reserve and surplus.
The Non-Performing Loan (NPL) has decline to 0.17% from 0.21%.
In the first quarter, the annualized EPS of the bank stands at Rs 34.09. The net worth per share stands at Rs 226.07 and qtr end PE ratio stands at 16.05 times.
The FY 2075/76 dividend which includes 5% bonus share which is yet to be endorsed by AGM and adjusted in published Q1 report.
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