Laxmi Bank Limited (LBL) has published its first quarterly report after acquiring Professional Diyalo Bikas Bank Limited (PRDBL).
As per the unaudited financial statement, its net profit has increased by 29% to Rs 56.91 crore at the end of the third quarter of the fiscal year. After the acquisition of PRDBL, its share capital has increased to Rs 3.16 arba. Likewise, it has shown that its reserve has increased by 144.47% to Rs 4.32 arba. However, it is to be noted that this reserve also includes the calls-in-advance it received from its basic shareholders for its ongoing 100% right share. Accounting for this right issue, its actual reserve will only be Rs 3.27 arba with share capital of Rs 6.318 arba. This dilutes its EPS to only Rs 12 and net worth per share to Rs 151.75.
Going forward, Laxmi Bank’s ability to increase its profit in proportion to its increase in capital will be its key for growth.
In this period, its deposits has increased to Rs 57.80 arba with floated loans of Rs 50.21 arba. With this, it has been able to increase its net interest income by 30.66% to Rs 1.17 arba.
Its non-performing loan has also increased to 1.79% from 1.28% posted in last year’s Q3 report.
Laxmi Bank is yet to conduct its AGM for the FY 2072/73. It is currently issuing 1:1 right shares for its shareholders. It has proposed 18.29% bonus shares for FY 2072/73, for which the right share allottees are also eligible.
Major Highlights of Laxmi Bank as per its published statement:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
3,159,030 |
3,039,229 |
3.94% |
| Reserve and Surplus |
4,329,849 |
1,771,117 |
144.47% |
| Deposits |
57,801,175 |
43,711,271 |
32.23% |
| Loans and Advances |
50,217,636 |
36,680,375 |
36.91% |
| Net Interest Income |
1,173,216 |
897,930 |
30.66% |
| Provision |
276,328 |
184,369 |
49.88% |
| Write Back |
49,084 |
57,709 |
-14.95% |
| Operating Profit |
736,204 |
615,981 |
19.52% |
| Net Profit |
569,100 |
440,187 |
29.29% |
| Capital Adequacy Ratio |
11.04% |
10.41% |
- |
| NPL |
1.79% |
1.28% |
39.84% |
| Cost of Fund |
6.76% |
3.94% |
|
| CD Ratio (as per NRB) |
73.66% |
77.47% |
- |
| EPS (Annualized) |
24.02 |
19.31 |
24.38% |
| PE Ratio |
19.98 |
|
|
| Networth Per Share |
237.06 |
|
|
