Global IME Bank earns Rs 1.05 arba in Q1 with 40.59% growth in net profit; Company recently proposed 16% dividend
Thu, Nov 12, 2020 4:20 AM on Company Analysis, Latest,
Global IME Bank Limited (GBIME) has published its first-quarter report for the FY 2077/2078 with an increase in Net Profit by 40.59%. The bank's net profit has increased from Rs. 75.31 crore in the first quarter of FY 2076/2077 to Rs. 1.05 Arba in the first quarter of FY 2077/2078.
As per the management report, even though the bank has increased its profit, it has been hit by the global pandemic which has increased its non-performing loan in the current quarter and adversely impacted the net profit growth and distributable profit. The bank has Rs. 22.61 crore as a distributable profit.
The bank’s deposit from customers increased by 5.62% to Rs. 2.24 Kharba (compared to immediate previous year ending) whereas loans and advances to customers increased by 3.35% to Rs. 1.95 Kharba (compared to the immediate previous year ending) till the first quarter. The Net Interest Income (core business income) of the bank has increased by 65.75% to Rs. 2.59 Arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 18.97 Arba with Rs. 11.11 Arba in Reserve and surplus. The Non-performing loan (NPL) has increased to 1.83% from 0.85% in the corresponding quarter.
The annualized earnings per share (EPS) of the Bank stood at Rs. 22.32 and Net worth per share stood at Rs. 158.59. The company traded at a P/E multiple of 12.19 times.
However, the AGM for FY 2076/77 is not announced yet, and the proposed divided is not adjusted in the published report.
Major Highlights:
* 2076/77 figure are of Immediate Previous Year Ending.
|
Particulars (In Rs '000) |
Global IME Bank Limited |
||
|---|---|---|---|
|
Q1 2077/78 |
Q1 2076/77 |
Difference |
|
|
Share Capital* |
18,975,880 |
18,975,880 |
0.00% |
|
Share Premium* |
5,393 |
5,393 |
|
|
Retained Earnings* |
1,844,725 |
1,618,563 |
13.97% |
|
Reserves* |
9,267,176 |
8,418,117 |
10.09% |
|
Deposits from Customers* |
224,237,507 |
212,315,385 |
5.62% |
|
Loans & Advances to customers* |
195,731,201 |
189,388,664 |
3.35% |
|
Net Interest Income |
2,593,609 |
1,564,727 |
65.75% |
|
Net Fee and Commission Income |
447,799 |
377,568 |
18.60% |
|
Impairment Charge/(Reversal) |
517,004 |
270,874 |
- |
|
Personnel Expenses |
846,036 |
536,469 |
57.70% |
|
Operating Profit |
1,475,286 |
1,042,374 |
41.53% |
|
Profit/(Loss) for the Year |
1,058,840 |
753,144 |
40.59% |
|
Total Comprehensive Income |
1,078,604 |
734,688 |
46.81% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
226,161 |
|
|
|
Capital Adequacy Ratio (CAR) |
12.50 |
11.87 |
5.31% |
|
NPL |
1.83 |
0.85 |
115.29% |
|
CCD (as per NRB Directives) |
72.52 |
78.36 |
-7.45% |
|
Cost of Fund (%) |
5.39 |
7.13 |
-24.40% |
|
Interest Rate Spread (%) |
5.03 |
4.99 |
0.80% |
|
Base Rate (%) |
7.25 |
9.44 |
-23.20% |
|
Annualized EPS (In Rs.) |
22.32 |
15.88 |
40.59% |
|
Net Worth per Share (In Rs.) |
158.59 |
152.92 |
3.71% |
|
Qtr End PE Ratio (times) |
12.19 |
- |
- |
|
Qtr End Market Price |
272 |
- |
- |
