Himalayan Bank profit rises by 27.46% to Rs 1.74 arba in Q2; growth in profit is mainly due to rise in non-operating income
Wed, Feb 5, 2020 8:01 AM on Financial Analysis,
Himalayan Bank Limited (HBL) has published its second quarter report for the FY 2076/77 today with an excellent rise in net profit by 27.46%. The bank’s profit has increased from Rs 1.36 arba in the second quarter of the fiscal year 2075/76 to Rs 1.74 arba in the second quarter of the fiscal year 2076/77. The rise in net profit is mainly due to rise in non-operating income.
In the same quarter, the bank has Rs 92.92 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 3.06% (compared to immediate previous year ending) to Rs 1.12 kharba and loans and advances to customers increased by 5.42% (compared to immediate previous year ending) to Rs 97.72 arba till the second quarter. The net interest income (core business income) of the bank has increased by 3.39% to Rs 2.57 arba from Rs 2.49 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 8.52 arba with Rs 9.21 arba as its reserve and surplus. The Non-performing loan stands at 1.28%.
In the second quarter, the annualized EPS of the bank stands at Rs 40.90. The net worth per share stands at Rs 208.20 and qtr end PE ratio stands at 13.74 times.
Himalayan Bank has proposed 10% bonus share and 12% cash dividend for last fiscal year for which book closure is already done but its AGM had yet to approve this agenda and the proposed dividend remains to be adjusted in Q2 report.
Major Highlights:
* Figure are of Immediate Previous Year Ending (Audited)
|
Particulars (In Rs '000) |
Himalayan Bank Limited |
||
|---|---|---|---|
|
Q2 2076/77 |
Q2 2075/76 |
Difference |
|
|
Paid Up Capital* |
8,520,256 |
8,520,256 |
0.00% |
|
Share Premium* |
|
|
|
|
Retained Earnings* |
3,102,737 |
2,171,147 |
42.91% |
|
Reserves* |
6,116,041 |
5,303,396 |
15.32% |
|
Deposits from Customers* |
112,729,111 |
109,387,060 |
3.06% |
|
Loans & Advances to Customers* |
97,720,453 |
92,697,318 |
5.42% |
|
Net Interest Income |
2,578,060 |
2,493,438 |
3.39% |
|
Fee and Commission Income |
408,813 |
394,349 |
3.67% |
|
Impairment Charge/(Reversal) |
-109,566 |
-186,398 |
- |
|
Personnel Expenses |
869,339 |
753,644 |
15.35% |
|
Operating Profit |
2,117,093 |
1,950,402 |
8.55% |
|
Non-Operating Income |
316,540 |
1,950 |
16135.72% |
|
Profit/(Loss) for the Year |
1,742,406 |
1,367,043 |
27.46% |
|
Total Comprehensive Income |
1,744,235 |
1,354,410 |
28.78% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
929,290 |
- |
- |
|
Capital Adequacy Ratio (CAR) |
14.73 |
11.36 |
29.67% |
|
NPL |
1.28 |
1.25 |
2.40% |
|
CCD (as per NRB Directives) |
73.94 |
78.45 |
-5.75% |
|
Cost of Fund (%) |
6.34 |
6.73 |
-5.79% |
|
Base Rate (%) |
8.92 |
9.11 |
-2.09% |
|
Annualized EPS (In Rs.) |
40.90 |
32.09 |
27.46% |
|
Net Worth per Share (In Rs.) |
208.20 |
187.73 |
10.91% |
|
Qtr End PE Ratio (times) |
13.74 |
- |
- |
|
Qtr End Market Price* |
562 |
- |
- |
|
Price to Book (PB Ratio) |
2.70 |
- |
- |
