Excel Dev. profit surges by 18.71% in Q4; 25% right shares & 25% bonus in offing
Tue, Aug 11, 2015 12:00 AM on Others,
ShareSansar, August 11:
Birtamode based -- Excel Development Bank Limited (EDBL) has reported a net profit rise of 18.71% in the fourth quarter of the last fiscal year 2071/72.
As per the unaudited financial statement published today, its net profit has surged to Rs 7.14 crore in fourth quarter, up from Rs 6.01 crore in the corresponding quarter of the previous fiscal year 2070/71.
Excel development bank has mobilized Rs 2.96 arba in deposits in Q4 up from Rs 2.76 arba in the corresponding period of previous fiscal year. Likewise it has extended loans and advances of Rs 2.14 arba from Rs 1.82 arba.
The net interest income of the development bank reached Rs 17.48 crore in Q4 of FY 2071/72 up from Rs 14.72 in the previous FY 2070/71.
Its non-performing loan (NPL) has decline to 1.61 % in Q4 from 1.87 % in the same quarter last year. The bank’s CD ratio stands at 65.57 %.
The development bank EPS stands at Rs 35.28 and net worth per share at Rs157.03.
The Paid up capital of the bank remains at Rs 20.25 crore.
Dinesh Kumar Pokhrel, CEO of Excel Development Bank said to sharesansar, “To meet the paid-up capital of Rs 50 crore within Asad of 2074 as per NRB directives, we are going to offer right share worth Rs 5.06 crore which is due to be rated by ICRA Nepal. After the issuance of right share the bank capital will rise to Rs 25.31 crore and then the bank will increase the capital to Rs 31.6 crore by issuing bonus share from the profit of FY 2071/72.”
Further the bank will increase its capital to Rs 50 crore by issuing bonus shares and right shares (if needed) within the capacity of the bank by 2073/74 fiscal year, he added.
EDBL had distributed 35 percent bonus shares to its shareholders in 2070/71 FY, 50 percent in 2069/70 FY and 25 percent in 2068/69 FY.
