Global IME Bank earns Rs 3.15 arba in Q3 with Rs 57.95 crore as distributable profit; EPS stands at Rs 22.16
Tue, May 12, 2020 7:42 AM on Financial Analysis, Stock Market, Latest,
Global IME Bank Limited (GBIME) has published its third quarter report for the FY 2076/77 today with 44.36% rise in net profit.
The bank’s profit has increased from Rs 1.87 arba in the third quarter of the fiscal year 2075/76 to Rs 3.15 arba (includes net profit of then Janata Bank Limited till date of merger) in the third quarter of the fiscal year 2076/77. In the same quarter, the bank has Rs 57.95 crore as distributable profit after PL Appropriation and Regulatory Adjustments. There is decrease in distributable profit due to slow credit recovery resulting from COVID19 outbreak and its impact on economy.
The bank’s deposit from customers has increased by 67.57% (compared to immediate previous year ending) to Rs 2.01 kharba and loans and advances to customers increased by 79.11% (compared to immediate previous year ending) to Rs 1.90 kharba in the third quarter. The net interest income (core business income) of the bank has increased by 62.78% to Rs 6 arba from Rs 2.38 arba of the corresponding quarter.The massive growth in deposits, loans and net interest income is mainly due to inclusion of then Janata Bank’s deposits and loans in this quarter financials.
The bank’s paid up capital stands at Rs 18.97 arba with Rs 9.61 arba as its reserve and surplus. The Non-performing loan stands at 1.14%.
In the third quarter, the annualized EPS of the bank stands at Rs 22.16. The net worth per share stands at Rs 150.65 and qtr end PE ratio stands at 12.50 times.
Major Highlights:
* 2075/76 figure are of Immediate Previous Year Ending.
|
Particulars (In Rs '000) |
Global IME Bank Limited |
||
|---|---|---|---|
|
Q3 2076/77 |
Q3 2075/76 |
Difference |
|
|
Share Capital* |
18,975,880 |
10,310,516 |
84.04% |
|
Share Premium* |
5,393 |
0 |
|
|
Retained Earnings* |
464,986 |
2,663,622 |
-82.54% |
|
Reserves* |
9,140,614 |
3,358,032 |
172.20% |
|
Deposits from Customers* |
201,597,000 |
120,088,440 |
67.87% |
|
Loans & Advances to customers* |
195,188,402 |
108,977,608 |
79.11% |
|
Net Interest Income |
6,003,352 |
3,687,945 |
62.78% |
|
Fee and Commission Income |
1,156,000 |
815,183 |
41.81% |
|
Impairment Charge/(Reversal) |
671,904 |
137,774 |
- |
|
Personnel Expenses |
1,994,342 |
1,174,651 |
69.78% |
|
Operating Profit |
3,795,235 |
2,649,014 |
43.27% |
|
Profit/(Loss) for the Year |
2,702,615 |
1,872,125 |
44.36% |
|
Total Profit including then Janata Bank upto date of merger |
3,153,946 |
- |
- |
|
Total Comprehensive Income |
2,706,227 |
1,858,176 |
45.64% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
579,505 |
- |
- |
|
Capital Adequacy Ratio (CAR) |
11.20 |
12.05 |
-7.05% |
|
NPL |
1.14 |
0.76 |
50.00% |
|
CCD (as per NRB Directives) |
79.69 |
78.76 |
1.18% |
|
Cost of Fund (%) |
6.84 |
6.97 |
-1.87% |
|
Base Rate (%) |
9.41 |
9.6 |
-1.98% |
|
Annualized EPS (In Rs.) |
22.16 |
24.21 |
-8.46% |
|
Net Worth per Share (In Rs.) |
150.65 |
158.40 |
-4.90% |
|
Qtr End PE Ratio (times) |
12.50 |
- |
- |
|
Qtr End Market Price |
277 |
- |
- |
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