Excel Development Bank reports a meagre rise of 4.89% in net profit for Q4 of 2075/76; Provision for possible losses goes up by 85.31%
Sun, Aug 18, 2019 12:57 PM on Financial Analysis, Latest,
Birtamode based, Excel Development Bank Limited (EDBL) has posted meager increase of net profit by 4.89 percent for fourth quarter (Q4) in the FY 2075/76.
According to the published unaudited financial reports, the development bank reported an increase in its net profit from Rs 15.66 crore in Q4 of the previous FY 74/75 to Rs 16.42 crore in Q4 of the FY 2075/76.
It’s deposit rises by 42.06% to Rs 7.43 arba while the loans and advances also rises by 48.96% to Rs 6.40 arba. Despite outstanding rise in deposits and loans in the review period there is no such increment seen on net profit due to rise in cost of funds (interest cost) and provision of possible losses.
The cost of fund has gone up by 24.38% and the provision for possible losses has gone up by 85.31%.
EDBL has paid up capital of Rs 69.26 crore till Q4 of FY 2075/76 and its reserve and surplus stands at Rs 31.02 crore.
EDBL’s annualized earning per share (EPS) is at Rs 23.71. Its net worth per share is at Rs 144.79 and the P/E ratio at 11.94times.
Major Highlights:
| Particulars (In Rs '000) | Excel Development Bank | ||
|---|---|---|---|
| Q4 2075/76 | Q4 2074/75 | Difference | |
| Paid Up Capital | 692,673.98 | 692,673.97 | |
| Reserve & Surplus | 310,230.44 | 268,312.94 | 15.62% |
| Deposits | 7,437,512.68 | 5,235,336.40 | 42.06% |
| Borrowings | 0.00 | 0 | |
| Loans & Advances | 6,401,580.63 | 4,297,582.61 | 48.96% |
| Net Interest Income | 381,126.00 | 338,891.56 | 12.46% |
| Provision for possible losses | 64,533.47 | 34,824.90 | 85.31% |
| Operating Profit | 218,125.68 | 212,701.21 | 2.55% |
| Net Profit | 164,258.54 | 156,600.71 | 4.89% |
| Capital Adequacy (%) | 12.99 | 17.17 | -24.34% |
| NPL (%) | 0.61 | 0.62 | -1.61% |
| CCD Ratio (%) | 75.73 | 69.62 | 8.78% |
| Cost of Fund (%) | 7.5 | 6.03 | 24.38% |
| Annualized EPS (In Rs.) | 23.71 | ||
| Net Worth per Share (In Rs.) | 144.79 | ||
| PE Ratio (times) | 11.94 | ||
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