Everest Bank Limited (EBL) has reported 3.52 percent increase in profit for the first quarter of the fiscal year 2074/75.
As per the unaudited report for the first quarter published today, the bank’s net profit has slightly increased to Rs 53.14 crore in the first quarter of fiscal year 2074/75, from Rs 51.34 crore reported in the same quarter of the previous fiscal year 2073/74. The bank has posted an operating profit of Rs 83.09 crore.
It has collected Rs 99.37 arba in deposit in the first quarter and extended a total of Rs 81.85 arba in loans. In the corresponding quarter of fiscal year 2073/74, the bank deposits stood at Rs 89.11 arba and loan & advances at 69.53 arba.
Its net interest income surged to Rs 1.03arba in Q4 up from Rs 91.08 crore in the corresponding quarter. EBL's non-performing loan (NPL) has decreased to 0.26% in corresponding quarter compared to 0.36% in the current quarter.
Its paid up capital remains at Rs 6.11 arba in Q1. The bank's CCD ratio is now at 76.91% and its reserve and surplus has grown to Rs 6.67 arba in Q1 up from Rs 6.38 arba in last quarter, a rise of 4.63 percent.
Recently, the bank has distributed 70 percent stock dividend from the profits it earned in the fiscal year 2073/74. To meet the capital requirement of Rs 8 arba, as directed by the Nepal Rastra Bank, it should hike its capital by Rs 1.89 arba (around 31%).
The bank’s Earning Per Share (EPS) stands at Rs 34.76, net worth per share is valued at Rs 209.21 and P/E ratio at 35.29 times.
Major Highlights:
| Particulars (In Rs '000) |
Q1 2074/75 |
Q1 2073/74 |
Difference |
| Paid Up Capital |
6,115,235 |
2,742,604 |
122.97% |
| Reserve & Surplus |
6,678,253 |
6,383,001 |
4.63% |
| Deposits |
99,371,205 |
89,115,098 |
11.51% |
| Borrowings |
16,676 |
5,000 |
233.52% |
| Loans & Advances |
81,859,369 |
69,530,035 |
17.73% |
| Net Interest Income |
1,030,941 |
910,897 |
13.18% |
| Provision for possible losses |
60,701 |
49,773 |
21.96% |
| Operating Profit |
830,957 |
769,478 |
7.99% |
| Net Profit |
531,474 |
513,421 |
3.52% |
| NPL (%) |
0.26 |
0.36 |
-27.78% |
| Annualized EPS (In Rs.) |
34.76 |
74.88 |
-53.57% |
| Net Worth per Share (In Rs.) |
209.21 |
332.74 |
-37.13% |
| P/E Ratio (In times) |
35.29 |
46.82 |
-24.63% |
