Laxmi Bank Limited (LBL) has registered impressive profit rise of 38.05 percent in the fourth quarter of the last fiscal year 2073/74.
According to the unaudited financial report published by the commercial bank today, its net profit has surged to Rs 1.002 arba in the fourth quarter from 67.71 crore in the corresponding quarter of the last fiscal year 2072/73. Likewise, the operating profit has increased to Rs 1.35 arba from Rs 96.16 crore as compared to the corresponding quarter of last fiscal year.
Laxmi Bank’s net interest income has risen to Rs 1.65 arba in the fourth quarter as compared to Rs 1.30 arba in the corresponding quarter.
LBL had issued 100% right shares and 18.29% bonus shares in the last fiscal year 2073/74. 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, LBL will need to increase its capital by further 7.08%.
LBL’s reserves and surplus declined by 16.38% to Rs 2.18 arba. Previously in the Q4 of the FY 072/73, the reserve and surplus stood at Rs 2.61 arba.
Deposits collection of the bank has reached to Rs 59.32 arba in Q4 from Rs 48.15 arba in the corresponding period last year–rises by 23.19 percent.
Likewise, it has extended loans and advances of Rs 52.73 arba in Q4 whereas in the same period last year the figure stood at Rs 40.35 arba. Its CD ratio stands at 71.76%.
Its non-performing loan has inclined to 0.93 percent in Q4 from 0.80 percent in the previous year report.
LBL’s Earnings per share (EPS) has massively declined to Rs 13.42 in Q4 from Rs 22.28 in the corresponding quarter. Its net worth per share is at Rs 129.21, and P/E ratio at 29.06 times.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q4 |
FY 2072/73 Q4 |
Growth (%) |
| Paid Up Capital |
7,472,412 |
3,039,229 |
145.87 |
| Reserve and Surplus |
2,182,759 |
2,610,240 |
(16.38) |
| Deposits |
59,320,404 |
48,154,198 |
23.19 |
| Loans and Advances |
52,733,336 |
40,359,566 |
30.66 |
| Net Interest Income |
1,654,627 |
1,307,144 |
26.58 |
| Provision |
97,476 |
196,409 |
(50.37) |
| Write Back |
49,084 |
109,391 |
(55.13) |
| Operating Profit |
1,358,596 |
961,694 |
41.27 |
| Net Profit |
1,002,477 |
677,127 |
48.05 |
| Capital Adequacy Ratio (%) |
14.19 |
11.15 |
27.26 |
| NPL (%) |
0.93 |
0.80 |
16.25 |
| Base Rate (%) |
10.33 |
6.77 |
52.58 |
| CD Ratio (as per NRB) )%) |
71.76 |
76.21 |
(5.84) |
| EPS (Annualized) |
13.42 |
22.28 |
(39.78) |
| Networth Per Share |
129.21 |
185.88 |
(30.49) |
| P/E Ratio |
29.06 |
|
|
