Janata Bank Nepal Limited (JBNL) has shown impressive progress in the fourth quarter of the FY 2073/74. Its net profit has surged by 380.27% as compared to last year’s report.
Publishing the unaudited quarterly report for the fourth quarter today, the commercial bank has net profit of Rs. 64.18 crore in the Q4 of fiscal year 2073/74, up from Rs 13.36 crore in the corresponding quarter of fiscal year 2072/73.
Janata Bank has a paid up capital of Rs 6.99 arba. Its reserve and surplus increased by massive 273.53 percent to Rs 1.82 arba in Q4 of the fiscal year 2073/74 from Rs 17.10 crore in corresponding quarter.
Janata Bank has acquired Siddhartha Development Bank in a share swap ratio of 1:1 and the joint transaction of both companies had started on Ashad 30, 2074. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, JBNL will need to issue a further capital hike of around Rs 1.1 arba (around 15%).
The commercial bank’s net interest income surged to Rs 1.14 arba in the fourth quarter compared to Rs 74.76 crore of the corresponding quarter of the previous fiscal year. Its CCD ratio stands at a tight 75.63%.
Janata Bank has collected Rs. 48.57 arba in deposits and mobilized Rs 45.65 arba in loans in the fourth quarter of 2073/74 .The deposit and loan was Rs 24.06 arba and Rs 20.47 arba respectively in the corresponding quarter of fiscal year 2072/73.
The bank has an operating profit of Rs 59.18 crore in Q4 compared to Rs 16.18 crore in the corresponding quarter of the previous fiscal year.
The bank’s non-performing loan (NPL) has declined to 2.09 percent in Q4 from 2.37 percent in the same quarter of previous year.
JBNL’s earning per share (EPS) has slightly inclined to Rs 9.18 in Q4 from Rs 5.79. Likewise, its net worth per share stands at Rs. 126.05 and P/E ratio is 31 times.
Major Highlights;
| Indicators (Rs in "000") |
FY 2073/74 Q4 |
FY 2072/73 Q4 |
Growth (%) |
| Paid Up Capital |
6,993,694 |
2,307,200 |
203.12 |
| Reserve and Surplus |
1,821,933 |
171,006 |
965.42 |
| Deposits |
48,574,929 |
24,067,556 |
101.83 |
| Loans and Advances |
45,653,517 |
20,472,513 |
123.00 |
| Net Interest Income |
2,842,958 |
747,622 |
280.27 |
| Provision |
177,926 |
390,322 |
(54.42) |
| Write Back |
410,805 |
55,424 |
641.20 |
| Operating Profit |
591,982 |
161,858 |
265.74 |
| Net Profit |
641,825 |
133,639 |
380.27 |
| Capital Adequacy Ratio (%) |
18.16 |
11.55 |
57.23 |
| NPL (%) |
2.09 |
2.37 |
(11.81) |
| Cost of Funds (%) |
7.98 |
4.51 |
76.94 |
| CD Ratio (as per NRB) (%) |
75.63 |
77.10 |
(1.91) |
| Base rate |
11.93 |
7.99 |
49.31 |
| EPS (Annualized) |
9.18 |
5.79 |
58.44 |
| Net worth Per Share |
126.05 |
107.41 |
17.35 |
| P/E Ratio |
31.00 |
- |
|
Likewise,
Himalayan Bank Limited (HBL) has posted net profit growth of 12.43 percent for the fourth quarter of the last fiscal year 2073/74.
Publishing the unaudited financial report for today, the commercial bank has stated that its net profit increased to Rs 2.17 arba in Q4 of the fiscal year 2073/74 up from Rs 1.93 arba in the corresponding quarter of the previous fiscal year 2072/73.
Its net interest income has also increased from Rs 3.76 arba in corresponding quarter to Rs 3.44 arba in Q4.
HBL has paid up capital of Rs 6.49 arba. The bank’s reserve and surplus rises by massive 83.47 percent to Rs 5.27 arba.
The bank had issued 7:1 right shares to its shareholders and 30% bonus shares from the profit it had earned in the FY 2072/73. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, HBL will need to increase its capital by a further 23.22%.
The commercial bank has collected deposits of Rs 92.88 arba in Q4 compared to Rs 87.33 arba in the corresponding quarter last year. Likewise, it floated loans of Rs 77.65 arba, up from Rs 67.74 arba of corresponding quarter previous fiscal year.
The operating profit of the bank reached to Rs 2.49 arba from Rs 2.29 arba.
The bank’s NPL has declined to 0.87 % in Q4 from 1.23% in the corresponding quarter. Its CD ratio stands at 79.07%
Its EPS has slightly inclined from Rs 33.10 last year to Rs 33.53 in Q4. Its net worth per share is at Rs 181.25 and P/E ratio at 26.64 times.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q4 |
FY 2072/73 Q4 |
Growth (%) |
| Paid Up Capital |
6,491,624 |
5,848,889 |
10.99 |
| Reserve and Surplus |
5,274,461 |
2,974,880 |
83.47 |
| Deposits |
92,881,114 |
87,335,786 |
6.35 |
| Loans and Advances |
77,654,974 |
67,745,979 |
14.63 |
| Net Interest Income |
3,763,408 |
3,449,948 |
9.09 |
| Provision |
817,327 |
744,817 |
9.74 |
| Write Back |
915,257 |
1,401,387 |
(34.69) |
| Operating Profit |
2,491,178 |
2,297,520 |
8.43 |
| Net Profit |
2,176,487 |
1,935,907 |
12.43 |
| Capital Adequacy Ratio (%) |
12.23 |
10.84 |
12.82 |
| NPL (%) |
0.87 |
1.23 |
(29.27) |
| Cost of Funds (%) |
3.99 |
2.27 |
75.77 |
| CD Ratio (as per NRB) (%) |
79.07 |
77.27 |
2.33 |
| Base rate |
9.57 |
5.68 |
68.49 |
| EPS (Annualized) |
33.53 |
33.10 |
1.30 |
| Networth Per Share |
181.25 |
149.15 |
21.52 |
| P/E Ratio |
26.64 |
- |
|
