Garima Bikas Bank published Q4 report as per NFRS; earns Rs 59.22 crore and has 16% dividend distribution capacity

Tue, Aug 13, 2019 6:35 AM on Financial Analysis, Stock Market, Latest,

Garima Bikas Bank Limited (GBBL) has published a satisfactory fourth quarter report for FY 2075/76 with 26.33% growth in net profit.

GBBL’s profit has increased from Rs 46.88 crore in the fourth quarter of the fiscal year 2074/75 to Rs 59.22 crore in the fourth quarter of the fiscal year 2075/76.

The development bank’s deposit from customers increased by 35.77% to Rs 26.78 arba whereas loans and advances to customers rises by 51.28 % to Rs 28.20 arba till the fourth quarter. The net interest income (core business income) of the bank has increased by 37.65% to Rs 1.40 arba from Rs 1.02 arba of the corresponding quarter.

In the same quarter, the bank has Rs 45.31 crore as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders. This means GBBL can distribute maximum 16% (approx.) dividend from this year profit if other regulatory requirements are not required.

GBBL’s paid up capital stands at Rs 2.78 arba with Rs 98.88 crore as its reserve and surplus. The Non-Performing Loan (NPL) has also slightly decreased to 0.2% from 0.27%.

In the fourth quarter, the EPS of the bank stands at Rs 21.24. The net worth per share stands at Rs 135.46 and PE ratio stands at 10.55 times.

Major Highlights:

Particulars (In Rs '000)

Garima Bikas Bank

Q4 2075/76

Q4 2074/75

Difference

Paid Up Capital

2,788,368

2,534,880

10.00%

Share Premium

97

16,297

 

Retained Earnings

498,514

351,880

41.67%

Reserves

490,212

391,266

25.29%

Deposits from Customers

26,785,958

19,728,951

35.77%

Loans & Advances to customers

28,201,767

18,642,401

51.28%

Net Interest Income

1,405,254

1,020,921

37.65%

Impairment Charge/(Reversal)

-93,560

76,067

-

Personnel Expenses

425,102

284,030

49.67%

Operating Profit

856,662

649,750

31.84%

Profit/(Loss) for the Year

592,266

468,834

26.33%

Total Comprehensive Income

581,265

455,326

27.66%

Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments

453,113

-

-

Capital Adequacy Ratio (CAR)

14.40

19.33

-25.50%

NPL

0.2

0.27

-25.93%

CCD (as per NRB Directives)

77.91

76.33

2.07%

Cost of Fund (%)

8.69

8.98

-3.23%

Base Rate (%)

11.09

12.41

-10.64%

EPS (In Rs.)

21.24

18.50

14.84%

Net Worth per Share (In Rs.)

135.46

129.96

4.23%

Qtr End PE Ratio (times)

10.55

-

-