High impairment charges lead to 77.21% decline in Net Profit of the Excel Development Bank Limited; EPS at Rs. 4.73
Wed, Aug 19, 2020 10:54 AM on Latest, Company Analysis,
Excel Development Bank Limited (EDBL) has published its fourth-quarter report for the FY 2076/2077 with a sharp decline in Net Profit of 77.21%. The bank’s Net Profit decreased from Rs. 16.84 crore in the fourth quarter of the fiscal year 2075/2076 to Rs. 3.83 crore in the fourth quarter of fiscal year 2076/2077.
The bank’s deposit from customers rose by 36.48% to Rs. 10.15 Arba whereas loans and advances have also increased by 20.83% to Rs. 7.69 Arba in the Q4 of FY 2076/2077. The net interest income (core business revenue) of the bank has increased by 16.04% to Rs. 46.10 crore from Rs. 39.72 crore of the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 81.11 crores with reserve and surplus of Rs. 27.20 crores. The Non-performing loan (NPL) increased to 4.63%.
In Q4, 2076/2077, the EPS of the bank stands at Rs. 4.73. The net worth per share stood at Rs. 133.54.
Major Highlights
| Particulars ('000) | Excel Development Bank Limited | ||
|---|---|---|---|
| Q4, 2076/2077 | Q4,2075/2076 | Difference | |
| Paid-up Capital | 811,121.22 | 692,673.98 | 17.10% |
| Share Premium | 4,890.59 | 4,890.59 | - |
| Retained Earnings | 19,296.30 | 126,089.06 | -84.70% |
| Reserves | 247,855.30 | 206,150.43 | 20.23% |
| Deposit from Customers | 10,150,848.63 | 7,437,512.68 | 36.48% |
| Loans & Advances to Customers | 7,695,880.44 | 6,369,065.35 | 20.83% |
| Net Interest Income | 461,005.28 | 397,266.44 | 16.04% |
| Fee and Commission Income | 85,215.13 | 58,119.26 | 46.62% |
| Impairment Charge/(Reversal) | 253,855.23 | 27,096.82 | 836.85% |
| Personnel Expenses | 147,936.22 | 116,634.92 | 26.84% |
| Operating Profit | 54,853.74 | 242,035.96 | -77.34% |
| Profit/(Loss) for the Year | 38,397.63 | 168,477.24 | -77.21% |
| Total Comprehensive Income | 49,688.85 | 167,317.00 | -70.30% |
| Distributable Profit/(Loss) after P/L appropriation and Regulatory Adjustments | 17,888.55 | - | - |
| Capital Adequacy Ratio (CAR) (%) | 12.19% | 15.70% | - |
| Non-Performing Loan (NPL) | 4.63% | 0.62% | - |
| CCD (as per NRB Directive) | 72.01% | 75.73% | - |
| Cost of Fund (%) | 5.98% | 7.50% | - |
| Base Rate (%) | 8.98% | 10.24% | - |
| EPS (Rs.) | 4.73 | 24.31 | -80.54% |
| Net worth per share (Rs.) | 133.54 | 148.67 | -10.18% |
| Qtr End PE Ratio (Rs.) | 62.95 | - | - |
| Qtr End Market Price | 298.00 | - | - |
| Price to Book (PB Ratio) | 2.23 | - | - |
