Everest Bank earns Rs 2.21 arba with 18.37% growth in Q3; has Rs 1.35 arba as distributable profit

Mon, Apr 22, 2019 6:29 AM on Featured, Financial Analysis, Stock Market,
Everest Ba...

Everest Bank Limited (EBL) has published an satisfactory third quarter report for FY 2075/76 with 18.37% growth in net profit.

The bank’s profit has increased from Rs 1.73 arba in the third quarter of the fiscal year 2074/75 to Rs 2.21 arba in the third quarter of the fiscal year 2075/76.

In the same quarter, the bank has Rs 1.35 arba as distributable profit after PL appropriation and Regulatory Adjustments which can be utilized in distributing dividends to its shareholders. If the profit growth of this quarter continues in fourth quarter then the company will have Rs 1.8 arba (approx.) as distributable profit. This means Everest Bank can distribute around 22% (approx.) dividend next year from the earning of FY 2075/76 if other liabilities not arises.

The bank’s has deposit of Rs 124.54 arba and loans and advances of Rs 102.32 arba till the end of third quarter. The net interest income of the bank has increased by healthy 16.87% to Rs 4.10 arba from Rs 3.51 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.10 arba with Rs 8.44 arba as its reserve.

The Non-Performing Loan (NPL) has also slightly decreased to 0.18% from 0.23%.

In the third quarter, the EPS of the bank stands at Rs 36.45. The net worth per share stands at Rs 204.13 and PE ratio stands at 16.46 times.

Major Highlights:

* Figure are of Immediate Previous Year Ending (Audited)

Particulars (In Rs '000)

Everest Bank

Q3 2075/76

Q3 2074/75

Difference

Paid Up Capital

8,106,863

8,106,863*

0.00%

Reserve & Surplus

8,441,435

7,341,412*

14.98%

Deposits

124,542,022

106,332,983*

17.12%

Loans & Advances

102,321,468

85,738,443*

19.34%

Net Interest Income

4,106,287

3,513,443

16.87%

Impairment Charge/(Reversal)

-138,731

-94,998

-

Operating Profit

3,166,260

2,675,257

18.35%

Profit/(Loss) for the Year

2,216,036

1,872,051

18.37%

Total Comprehensive Income

2,019,164

1,732,973

16.51%

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

1,350,399

-

-

Capital Adequacy Ratio (CAR)

13.38

15.70

-14.78%

NPL

0.18

0.23

-21.74%

CCD (as per NRB Directives)

76.69

75.65

1.37%

Cost of Fund (%)

6.07

5.39

12.62%

Base Rate (%)

8.01

8.18

-2.08%

Annualized EPS (In Rs.)

36.45

30.79

18.37%