Global IME Bank Posts Rs. 1.85 Arba Net Profit in Q1 FY 2082/83; EPS Rises to Rs. 19.51 as Cost of Fund Drops to 3.92%

Global IME Bank Limited (GBIME) has reported an impressive net profit of Rs. 1.85 arba in the first quarter of FY 2082/83, marking a 22.92% rise compared to Rs. 1.51 arba recorded in the same period last fiscal year. The improvement in profitability was driven by a reduction in funding costs and steady growth in operating income.

The bank’s net interest income slightly increased by 0.34% to Rs. 4.13 arba. Operating profit grew by 10.44% to Rs. 2.37 arba, while impairment charges decreased by 5.67% to Rs. 1.01 arba. Personnel expenses, however, rose by 12.45% to Rs. 1.31 arba.

Deposits reached Rs. 582.25 arba, up by 5.74% from last year’s Rs. 550.62 arba, while loans and advances expanded by 2.72% to Rs. 421.25 arba. The bank’s reserves climbed 4.07% to Rs. 25.45 arba, and retained earnings surged 19.60% to Rs. 4.85 arba. Following regulatory adjustments, distributable profit increased sharply by 153.09% to Rs. 4.84 arba.

Global IME Bank’s capital adequacy ratio improved to 12.98% from 12.46%, while the cost of funds dropped significantly to 3.92% from 5.50%. The earnings per share (EPS) stood at Rs. 19.51, up from Rs. 15.87 in the previous year. The bank’s net worth per share rose to Rs. 179.50, and its P/E ratio stood at 12.10 times, with a quarter-end market price of Rs. 236.

Major Financial Highlights:

* Figures are of the Immediate Previous Year Quarter Ending

Particulars (In Rs '000) Global IME Bank
Q1 2082/83 Q1 2081/82 Difference
Paid Up Capital 38,115,853.00 38,115,853.00* 0.00%
Share Premium  0.00 0.00 -
Retained Earnings 4,849,506.00 4,054,879.00* 19.60%
Reserves  25,452,353.00 24,456,676.00* 4.07%
Deposits 582,254,603.00 550,628,588.00* 5.74%
Loans & Advances  421,252,080.00 410,113,933.00* 2.72%
Net Interest Income 4,133,063.00 4,118,971.00 0.34%
Personnel Expenses 1,318,229.00 1,172,255.00 12.45%
Impairment Charges 1,010,988.00 1,071,776.00 -5.67%
Operating Profit 2,371,636.00 2,147,495.00 10.44%
Net Profit 1,858,650.00 1,512,140.00 22.92%
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments  4,849,506.00 1,916,101.00 153.09%
Capital Adequacy (%) 12.98 12.46 4.17%
Cost of Fund (%) 3.92 5.50 -28.73%
EPS (In Rs.) 19.51 15.87 22.92%
Net Worth per Share (In Rs.) 179.50 174.80 2.69%
Qtr end PE Ratio (times) 12.10    
Qtr End Market Price 236 - -