Garima Bikas Bank reports satisfactory performance for Q1 of 2076/77; Net profit rises to Rs 18.87 crore by 21%
Mon, Nov 18, 2019 4:39 PM on Financial Analysis, Latest, Stock Market,
Garima Bikas Bank Limited (GBBL) has published a satisfactory first-quarter report for FY 2076/77 with 21.38% growth in net profit.
GBBL’s profit has increased from Rs 15.54 crore in the first quarter of the fiscal year 2075/76 to Rs 18.87 crore in the first quarter of the fiscal year 2076/77.
The development bank’s deposit from customers increased by 8.48% to Rs 35.94 arba whereas loans and advances to customers rises by 6.35% to Rs 30 arba till the first quarter. The net interest income (core business income) of the bank has increased by 15.42% to Rs 46.46 crore from Rs 40.25 crore of the corresponding quarter.
GBBL’s paid-up capital stands at Rs 2.78 arba with Rs 63.20 crore as its reserve and surplus. The Non-Performing Loan (NPL) has also slightly decreased to 0.36% from 0.84%.
In the first quarter, the annualized EPS of the bank stands at Rs 27.07. The net worth per share stands at Rs 142.22 and PE ratio stands at 8.60 times.
Major Highlights:
| Particulars (In Rs '000) | Garima Bikas Bank | ||
|---|---|---|---|
| Q1 2076/77 | Q4 2075/76 | Difference | |
| Paid Up Capital | 2,788,368 | 2,788,368 | |
| Share Premium | 97.07 | 97.07 | |
| Retained Earnings | 545,087 | 484,714 | 12.46% |
| Reserves | 632,081 | 517,324 | 22.18% |
| Deposits from Customers | 35,944,679 | 33,134,192 | 8.48% |
| Loans & Advances to customers | 30,003,588 | 28,210,992 | 6.35% |
| Q1 2076/77 | Q1 2075/76 | ||
| Net Interest Income | 464,684 | 402,591 | 15.42% |
| Impairment Charge/(Reversal) | 43,880 | 78,876 | -44.37% |
| Personnel Expenses | 144,241 | 103,390 | 39.51% |
| Operating Profit | 269,622 | 222,133 | 21.38% |
| Profit/(Loss) for the Year | 188,736 | 155,493 | 21.38% |
| Total Comprehensive Income | 175,487 | 153,704 | 14.17% |
| Capital Adequacy Ratio (CAR) | 14.14 | 17.18 | -17.69% |
| NPL | 0.36 | 0.84 | -57.14% |
| CCD (as per NRB Directives) | 77.13 | 79.17 | -2.58% |
| Cost of Fund (%) | 8.48 | 8.22 | 3.16% |
| Base Rate (%) | 11.20 | 11.88 | -5.72% |
| Annualized EPS (In Rs.) | 27.07 | 22.31 | 21.38% |
| Net Worth per Share (In Rs.) | 142.22 | ||
| Qtr End PE Ratio (times) | 8.60 | ||
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