Jyoti Bikas Bank Limited (JBBL) has posted a net profit surge of massive 134.72 percent in the third quarter of the fiscal year 2073/74.
As per the unaudited financial report for the third quarter published today, the development bank has stated that it has accumulated net profit of Rs 19.26 crore in the Q3 up from Rs 8.20 crore in the corresponding period of previous fiscal year report.
Its net interest income increased to Rs 35.61 crore in Q3 from Rs 23.77 crore in the corresponding quarter previous year. The bank has collected deposits of Rs 9.35 arba while it has mobilized loans and advances of Rs 8.38 arba in Q3. The deposit and loan amount stood at Rs 7.48 arba and Rs 5.96 arba respectively in the previous year corresponding quarter.
Jyoti Bikas Bank has a paid up capital of Rs 1.10 arba and reserve of Rs 34 crore. It is also going to issue 100% right shares (1,10,43,171 units) to its shareholders from Baisakh 28, 2074. After the capitalization of 100% right shares, its paid up capital will reach Rs 2.20 arba.
As a national level development bank, it should increase its paid up capital to a minimum of Rs 2.50 arba by the end of FY 2073/74. It recently signed an agreement to acquire Raptibheri Bikas Bank Limited.
The development bank has managed to reduce its non performing loan (NPL) from 3.40% in previous quarter to 0.99% in Q3. Its Earnings per Share (annualized) remains at Rs 23.31 and net worth per share stands at Rs 130.86.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
1,101,941 |
923,476 |
19.33% |
| Reserve and Surplus |
340,094 |
164,029 |
107.34% |
| Deposits |
9,352,589 |
7,489,602 |
24.87% |
| Loans and Advances |
8,384,743 |
5,969,609 |
40.46% |
| Net Interest Income |
356,124 |
237,722 |
49.81% |
| Provision |
24,167 |
87,679 |
- |
| Write Back |
34,972 |
35,472 |
- |
| Operating Profit |
237,446 |
93,592 |
153.70% |
| Net Profit |
192,653 |
82,079 |
134.72% |
| Capital Adequacy Ratio |
15.86% |
15.28% |
- |
| NPL |
0.99% |
3.40% |
-70.88% |
| Cost of Fund |
7.27% |
4.55% |
|
| CD Ratio (as per NRB) |
77.73% |
69.62% |
- |
| EPS (Annualized) |
23.31 |
11.85 |
96.70% |
| PE Ratio |
17.33 |
|
|
| Networth Per Share |
130.86 |
|
|
Likewise,
Rapti Bheri Bikas Bank (RBBBL) has registered a net profit growth of 26.56% in the third quarter of the current FY 2073/74.
According to the unaudited financial report published by the development bank today, its net profit has increased to Rs 1.08 crore in third quarter, up from Rs. 85.37 lakh in the corresponding quarter of the previous fiscal year.
RBBBL’s net interest income has risen to Rs 3.07 crore in Q3 as compared to Rs. 1.80 crore in the corresponding quarter of the last fiscal year.
As of Q3, it has a paid up capital of Rs 14.37 crore with a reserve of Rs 3.26 crore.
The bank also collected deposits of Rs 1.03 arba in Q3, up from Rs 81.77 crore in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 88.80 crore in Q2 whereas in the same period last year, the figure stood at Rs. 67.50 crore.
RBBBL’s annualized Earnings per Share (EPS) stand at Rs 10.02 per share, Net worth per share 118.91 and P/E ratio at 36.42. Its trading is currently suspended in NEPSE followings its acquisition by Jyoti Bikas Bank.
