Everest Bank reports decline in profitability by huge margin in Q3; Look at the major highlights
Tue, Apr 27, 2021 7:29 AM on Latest, Company Analysis,
Everest Bank Limited (EBL) has published its third-quarter report for the FY 2077/78 with a decline in net profit by 35.93%. The bank’s profit has decreased from Rs 2.35 Arba in the third quarter of the fiscal year 2076/77 to Rs 1.50 Arba in the third quarter of the fiscal year 2077/78.
In the same quarter, the bank has Rs 1.06 Arba as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has a growth rate of 8.44% (compared to the immediate previous year ending) to Rs 1.55 kharba and loans and advances to customers have increased by 7.28% (compared to the immediate previous year ending) to Rs 1.20 kharba in the third quarter. The net interest income of the bank has decreased by 35.25% to Rs 2.84 Arba from Rs 4.34 Arba of the corresponding quarter.
The bank’s paid-up capital stands at Rs 8.93 Arba with Rs 12.07 Arba as its reserve and surplus.
The Non-Performing Loan (NPL) has slightly declined to 0.12% from 0.20%.
In the third quarter, the annualized EPS of the bank stands at Rs. 22.50. The net worth per share stands at Rs 235.11 and the qtr end PE ratio stands at 36.18 times.
Financial Highlights:
* FY 2076/77 Figure is of Immediate Previous Year Ending
|
Particulars |
Everest Bank Limited |
||
|---|---|---|---|
|
Q3, 2077/2078 |
Q3, 2076/2077 |
Difference |
|
|
Share Capital |
8,933,717.00 |
8,510,207.00 |
4.98% |
|
Reserve & Surplus |
12,070,748.00 |
10,127,150.00 |
19.19% |
|
Loans and Advances |
120,375,538.00 |
112,211,738.00 |
7.28% |
|
Deposit from Customers |
155,655,693.00 |
143,545,475.00 |
8.44% |
|
Net Interest Income |
2,814,347.00 |
4,346,364.00 |
-35.25% |
|
Impairment charge/(Reversal) for loans |
-179,973.00 |
107,684.00 |
- |
|
Operating Profit |
2,153,422.00 |
3,361,089.00 |
-35.93% |
|
Net Profit |
1,507,446.00 |
2,352,657.00 |
-35.93% |
|
Capital Adequacy Ratio (CAR) |
12.82% |
12.63% |
- |
|
Non-performing Loan (%) |
0.12% |
0.20% |
- |
|
Cost of Funds (%) |
4.55% |
6.39% |
- |
|
Base Rate (%) |
6.10% |
8.34% |
- |
|
CCD Ratio (as per NRB Directives) |
70.05% |
75.05% |
- |
|
Annualized EPS (Rs.) |
22.50 |
36.86 |
- |
|
Net Worth per share (Rs.) |
235.11 |
219.00 |
- |
|
Price to Earnings (Times) |
36.18 |
- |
- |
|
Price to Book (Times) |
3.46 |
- |
- |
