Garima Bikas Bank reports 10% rise in net profit till Q2; FInd the major highlights

Sun, Feb 9, 2020 11:35 AM on Financial Analysis, Latest, Stock Market,
Garima Bik...

Garima Bikas Bank Limited (GBBL) has published a satisfactory second-quarter report for FY 2076/77 with 10.03% growth in net profit.

GBBL’s profit has increased from Rs 29.58 crore in the second quarter of the fiscal year 2075/76 to Rs 32.55 crore in the second quarter of the fiscal year 2076/77.

The development bank’s deposit from customers increased by 13.36% to Rs 33.73 arba whereas loans and advances to customers rises by 17.74% to Rs 33.21 arba till the second quarter. The net interest income (core business income) of the bank has increased by 20.21% to Rs 80.62 crore from Rs 67.06 crore of the corresponding quarter.

GBBL’s paid-up capital stands at Rs 3.23 arba with Rs 62.74 crore as its reserve and surplus. The Non-Performing Loan (NPL) has also slightly increased to 0.39% from 0.28%.

In the second quarter, the annualized EPS of the bank stands at Rs 20.10. The net worth per share stands at Rs 126.34 and PE ratio stands at 11.26 times.

Second Quarter Report

Major highlights

Particulars Garima Bikas Bank
Q2 2076/77 Q1 2076/77 Difference
Paid Up Capital             3,238,689,428             2,788,367,997 16.15%
Share Premium                           97,068                           97,068 0.00%
Retained Earnings                225,477,911                484,724,312 -53.48%
Reserves                627,486,157                517,323,781 21.29%
Deposits from Customers          33,738,115,930          29,762,509,255 13.36%
Loans & Advances to customers          33,215,782,104          28,210,992,186 17.74%
  Q2 2076/77 Q2 2075/76  
Net Interest Income                806,201,427                670,676,302 20.21%
Impairment Charge/(Reversal)                   79,901,959                   54,154,231 47.55%
Personnel Expenses                255,550,788                194,671,746 31.27%
Operating Profit                465,050,191                422,671,113 10.03%
Profit/(Loss) for the Year                325,535,133                295,869,779 10.03%
Total Comprehensive Income                324,938,534                289,162,383 12.37%
Capital Adequacy Ratio (CAR) 13.78 15.91 -13.39%
NPL 0.39 0.28 39.29%
CCD (as per NRB Directives) 79.2 78.26 1.20%
Cost of Fund (%) 8.51 8.9 -4.38%
Base Rate (%) 10.95 11.52 -4.95%
Annualized EPS (In Rs.) 20.10 21.22 -5.27%
Net Worth per Share (In Rs.) 126.34    
Qtr End PE Ratio (times) 11.26