Global IME Bank after successful merger with Janata Bank earns Rs 2.13 arba till Q2; EPS stands at Rs 22.53

Sun, Feb 9, 2020 9:06 AM on Financial Analysis, Stock Market,
Global IME...

Global IME Bank Limited (GBIME) has published its second quarter report for the FY 2076/77 today after successful merger with Janata Bank Limited with an impressive rise in net profit.

The bank’s profit has increased from Rs 1.22 arba in the second quarter of the fiscal year 2075/76 to Rs 2.13 arba (includes net profit of then Janata Bank Limited till date of merger) in the second quarter of the fiscal year 2076/77. In the same quarter, the bank has Rs 1.20 arba as distributable profit after PL Appropriation and Regulatory Adjustments.

The bank’s deposit from customers has increased by 64.39% (compared to immediate previous year ending) to Rs 1.97 kharba and loans and advances to customers increased by 74.83% (compared to immediate previous year ending) to Rs 1.90 kharba in the second quarter. The massive growth in deposits and loans is mainly due to inclusion of then Janata Bank’s deposits and loans in this quarter financials. The net interest income (core business income) of the bank has increased by 49.04% to Rs 3.54 arba from Rs 2.38 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 18.97 arba with Rs 8.58 arba as its reserve and surplus. The Non-performing loan stands at 1.2%.

In the second quarter, the annualized EPS of the bank stands at Rs 22.53. The net worth per share stands at Rs 145.23 and qtr end PE ratio stands at 13.10 times.

Click here for Q2 report:

Major Highlights:

* 2075/76 figure are of Immediate Previous Year Ending.

Particulars (In Rs '000)

Global IME Bank

Q2 2076/77

Q2 2075/76

Difference

Paid Up Capital*

18,975,880

10,310,516

84.04%

Share Premium*

5,393

 

 

Retained Earnings*

1,094,011

2,663,622

-58.93%

Reserves*

7,484,189

3,358,032

122.87%

Deposits from Customers*

197,411,319

120,088,440

64.39%

Loans & Advances to Customers*

190,526,538

108,977,608

74.83%

Net Interest Income

3,548,698

2,381,080

49.04%

Fee and Commission Income

799,583

550,174

45.33%

Impairment Charge/(Reversal)

413,952

71,225

-

Personnel Expenses

1,169,384

782,875

49.37%

Operating Profit

2,369,056

1,741,174

36.06%

Profit/(Loss) for the Year

1,685,908

1,229,386

37.13%

Total Net profit Including then JBNL till date of merger

2,137,239

 

 

Total Comprehensive Income

1,678,827

1,220,377

37.57%

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

1,208,531

-

-

Capital Adequacy Ratio (CAR)

11.47

11.30

1.50%

NPL

1.2

0.75

60.00%

CCD (as per NRB Directives)

78.98

79.06

-0.10%

Cost of Fund (%)

6.79

7.57

-10.30%

Base Rate (%)

9.64

10.09

-4.46%

Annualized EPS (In Rs.)

22.53

23.85

-5.54%

Net Worth per Share (In Rs.)

145.23

158.40

-8.31%

Qtr End PE Ratio (times)

13.10

-

-

Qtr End Market Price*

295

-

-

Price to Book (PB Ratio)

2.03

-

-