Everest Bank earns Rs 1.50 arba till Q2 with EPS of Rs 35.48; has Rs 86.49 crore as distributable profit

Thu, Jan 30, 2020 9:20 AM on Financial Analysis,

Everest Bank Limited (EBL) has published its second quarter report for the FY 2076/77 today with meager 5.59% rise in net profit. The bank’s profit has increased from Rs 1.42 arba in the second quarter of the fiscal year 2075/76 to Rs 1.50 arba in the second quarter of the fiscal year 2076/77.

In the same quarter, the bank has Rs 86.49 crore as distributable profit after PL Appropriation and Regulatory Adjustments.

The bank’s deposit from customers has increased by 8.97% (compared to immediate previous year ending) to Rs 1.41 kharba and loans and advances to customers increased by 9.26% (compared to immediate previous year ending) to Rs 1.14 kharba till the second quarter. The net interest income (core business income) of the bank has increased by 8.66% to Rs 2.90 arba from Rs 2.67 arba of the corresponding quarter.

Major Highlights:

* 2075/76 figure are of Immediate Previous Year Ending.

Particulars (In Rs '000)

Everest Bank

Q2 2076/77

Q2 2075/76

Difference

Share Capital*

8,510,207

8,106,863

4.98%

Share Premium*

238,470

238,470

 

Retained Earnings*

1,560,134

2,324,151

-32.87%

Reserves*

7,267,496

6,955,579

4.48%

Deposits from Customers*

141,195,515

129,568,153

8.97%

Loans & Advances to customers*

114,330,160

104,644,201

9.26%

Net Interest Income

2,902,480

2,671,082

8.66%

Impairment Charge/(Reversal)

-89,396

-111,037

-

Personnel Expenses

887,686

803,858

10.43%

Operating Profit

2,156,979

2,043,056

5.58%

Profit/(Loss) for the Year

1,509,829

1,429,915

5.59%

Total Comprehensive Income

1,564,616

1,158,877

35.01%

Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments

864,977

-

-

Capital Adequacy Ratio (CAR)

12.33

12.57

-1.91%

NPL

0.16

0.19

-15.79%

CCD (as per NRB Directives)

75.04

76.23

-1.56%

Cost of Fund (%)

6.44

6.23

3.37%

Base Rate (%)

8.46

8.22

2.92%

Annualized EPS (In Rs.)

35.48

35.28

0.58%

Net Worth per Share (In Rs.)

206.53

217.41

-5.00%

Qtr End PE Ratio (times)

16.80

-

-

Qtr End Market Price

596

-

-

Click here for Q2 report:

The bank’s paid up capital stands at Rs 8.51 arba with Rs 9.06 arba as its reserve and surplus. The Non-performing loan stands at 0.16%.

In the second quarter, the annualized EPS of the bank stands at Rs 35.48. The net worth per share stands at Rs 206.53 and qtr end PE ratio stands at 16.80 times.