Meager profit growth of Prabhu bank by 9.12% in Q3; Trading to resume soon

Prabhu Bank Limited (PRVU) has reported a net profit growth of 9.12 percent in the third quarter of the fiscal year 2072/73. Publishing the unaudited quarterly report for the third quarter today, the commercial bank has stated that it has a net profit of Rs. 75.78 crore in the third quarter of fiscal year 2072/73, up from Rs 69.44 crore in the corresponding quarter of fiscal year 2071/72. Its net interest income surged from Rs. 1.06 arba  in the previous year to Rs. 1.22 arba in Q3 of the current fiscal year.  Bank has a Paid up capital of Rs. 5.23 arba and negative reserve of Rs. 17.77 crore at present. Prabhu Bank has collected Rs. 54.54 arba in deposits and mobilized Rs. 44.3.5 arba in loans in the third quarter of 2072/73 as compared to Rs. 36.57 arba in deposit and Rs. 28.67 arba in loans in the corresponding quarter of fiscal year 2071/72. The bank’s non-performing loan (NPL) has drop to 10.04 percent in Q3 from 10.94 percent in the previous year report. It’s earning per share (EPS) stand at Rs. 14.46, net worth per share at 96.61, and the P/E ratio at 28.70 times. Prabhu Bank trading has been halted in Nepal Stock Exchange Limited (NEPSE) since September 30, 2015. It’s been eight months and the trading of shares of Prabhu Bank is still in halt though its merger process with Grand bank has been completed and joint operation has also started.