Global IME Bank publishes strong Q3 report with 32.40% rise in net profit; Distributable profit stands at Rs 2.56 arba
Wed, Apr 28, 2021 4:34 AM on Financial Analysis, Latest,
Global IME Bank Limited (GBIME) has published its third-quarter report for the FY 2077/78 with a rise in net profit by 32.40%.
The bank’s profit has increased from Rs 2.70 arba in the third quarter of the fiscal year 2076/77 to Rs 3.57 arba in the third quarter of the fiscal year 2077/78. In the same quarter, the bank has Rs 2.56 arba as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers increased by 15.06% to Rs. 2.44 kharba (compared to immediate previous year ending) whereas loans and advances to customers increased by 17.11% to Rs. 2.22 kharba (compared to the immediate previous year ending) till the third quarter.
The net interest income of the bank has increased by 14.44% to Rs 6.87 arba from Rs 6 arba of the corresponding quarter.
The bank’s paid-up capital stands at Rs 21.63 arba with Rs 10.58 arba as its reserve and surplus.
The Non-Performing Loan (NPL) has slightly increased to 1.61% from 1.14%.
The annualized EPS of the bank stands at Rs 22.05. The net worth per share stands at Rs 148.92. The company traded at a P/E ratio of 20.40 times.
Financial Highlights:
* Figure is of Immediate Previous Year Ending
| Particulars (In Rs '000") | Global IME Bank | ||
|---|---|---|---|
| Q3 2077/78 | Q3 2076/77 | Difference | |
| Share Capital* | 21,632,503 | 18,975,880 | 14.00% |
| Share Premium* | 0 | 5,393 | |
| Retained Earnings* | 2,653,573 | 1,673,610 | 58.55% |
| Reserves* | 7,928,858 | 8,179,513 | -3.06% |
| Deposits from Customers* | 244,300,312 | 212,315,385 | 15.06% |
| Loans & Advances to customers* | 222,905,604 | 190,336,853 | 17.11% |
| Net Interest Income | 6,870,212 | 6,003,352 | 14.44% |
| Other Operating Income | 397,315 | 126,182 | 214.87% |
| Impairment Charge/(Reversal) | 325,827 | 671,904 | -51.51% |
| Personnel Expenses | 2,375,027 | 1,994,342 | 19.09% |
| Operating Profit | 5,038,285 | 3,795,235 | 32.75% |
| Profit/(Loss) for the Year | 3,578,269 | 2,702,615 | 32.40% |
| Total Comprehensive Income | 3,763,439 | 2,706,227 | 39.07% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 2,564,581 | ||
| Capital Adequacy Ratio (CAR) | 13.22 | 11.20 | 18.04% |
| NPL | 1.61 | 1.14 | 41.23% |
| CCD (as per NRB Directives) | 76.54 | 79.69 | -3.95% |
| Cost of Fund (%) | 4.64 | 6.84 | -32.16% |
| Interest Rate Spread (%) | 4.17 | 5.18 | -19.50% |
| Base Rate (%) | 6.4 | 9.41 | -31.99% |
| Annualized EPS (In Rs.) | 22.05 | 18.99 | 16.14% |
| Net Worth per Share (In Rs.) | 148.92 | 151.95 | -2.00% |
| Qtr End PE Ratio (times) | 20.40 | - | - |
| Qtr End Market Price | 450 | - | - |
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