Everest Bank 's profit rises by 35% to reach Rs 2.78 arba in the fourth quarter; Fourth quarter report shows enhanced overall performance
Fri, Aug 3, 2018 1:58 AM on Financial Analysis, Stock Market,
Everest Bank Limited (EBL) has published its fourth quarter report based on the Nepal Financial Reporting Standards (NFRS). The bank has reported a decent rise in the net profit by 35.89% in the fourth quarter of the fiscal year 2074/75.
The bank’s profit has increased from 2.05 arba in the fourth quarter of the fiscal year 2073/74 to Rs 2.78 arba in the fourth quarter of the fiscal year 2074/75. In the last quarter of the FY 2074/75, the bank has Rs 2.70 arba as Free Profit after Regulatory Adjustments. It has deducted Rs 86.12 crore as regulatory adjustment as per NRB directive and the distributable free profit after regulatory adjustment is Rs 1.84 arba which can be utilized in distributing dividends to its shareholders.
The bank’s deposit has decent growth rate of 20.77% to Rs 1.14 kharba and loans and advances have also increased by 20.30% to Rs 92.77 arba in the last quarter. The borrowings of the bank have increased to Rs 2.67 crore from Rs 1.47 crore.
With the increase in its business, the net interest income of the bank has also increased to Rs 4.92 arba from Rs 3.78 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 8.10 arba with Rs 5.74 arba as its reserve.
The Non-Performing Loan (NPL) has also decreased to 0.20% from 0.51%.
In the fourth quarter, the EPS of the bank stands at Rs 34.37. The net worth per share stands at Rs 196.28.
Major Highlights:
|
Particulars (In Rs '000) |
EBL |
||
|---|---|---|---|
|
Q4 2074/75 |
Q4 2073/74 |
Difference |
|
|
Paid Up Capital |
8,106,863 |
5,741,095 |
41.21% |
|
Reserve & Surplus |
7,805,466 |
7,255,492 |
7.58% |
|
Deposits |
114,852,462 |
95,096,461 |
20.77% |
|
Borrowings |
26,713 |
14,762 |
80.96% |
|
Loans & Advances |
92,777,465 |
77,123,686 |
20.30% |
|
Net Interest Income |
4,924,778 |
3,788,876 |
29.98% |
|
Operating Profit |
3,862,894 |
2,914,540 |
32.54% |
|
Net Profit |
2,786,325 |
2,050,477 |
35.89% |
|
Total Comprehensive Income |
2,704,729 |
2,294,055 |
17.90% |
|
Add/ Less: Regulatory adjustment as per NRB |
- |
- |
- |
|
Free Profit/ (Loss) after Regulatory Adjustments |
2,704,729 |
2,294,055 |
17.90% |
|
NPL |
0.20 |
0.51 |
-60.78% |
|
Annualized EPS (In Rs.) |
34.37 |
35.72 |
-3.77% |
|
Net Worth per Share (In Rs.) |
196.28 |
226.38 |
-13.29% |
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