Mega Bank Nepal Limited (MEGA) has registered net profit rise by 65.95 percent in the second quarter (Q2) of the fiscal year 2073/74.
As per the unaudited report for the second quarter published today, the bank’s net profit rises to Rs. 37.09 crore in the second quarter of fiscal year 2073/74, up from Rs 22.35 crore reported in the same quarter of the fiscal year 2072/73.
In the second quarter, Mega Bank net interest income has risen to Rs 77.40 crore, up from Rs 43.26 crore in the previous corresponding quarter.
The bank has collected Rs 38.51 arba in deposits and disbursed Rs 34.01 arba in loans in Q2 as compared to Rs 23.52 arba in deposits and Rs 20.46 arba in loans in the corresponding quarter last year.
The bank’s has provisioned Rs 13.42 crore for possible losses whereas the bank’s is able to write back Rs 5 crore in Q2.
Mega Bank has paid up capital of Rs 4.01 arba with reserve of Rs 1.30 arba.
The commercial bank CD ratio stands at 79.36% and non-performing loan (NPL) dropped to 0.67% from 1.11% in Q2.
Its Earning per Share (EPS) stands at Rs 18.54, net worth per share is at Rs 132.59 and P/E ratio at 26.43 times.
Mega Bank Nepal Limited
has signed an agreement for merger with Tourism Development Bank Limited. After the merger, the paid up capital of the merged entity will reach Rs 9.48 arba. Mega's shareholders have complained that this merger is
against the interest of shareholders.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q2 |
FY 2072/73 Q2 |
Difference (%) |
| Paid Up Capital |
4,012,031.00 |
2,870,560.00 |
39.76% |
| Reserve and Surplus |
1,307,605.00 |
427,827.00 |
205.64% |
| Deposits |
38,517,106.00 |
23,527,233.00 |
63.71% |
| Loans and Advances |
34,011,122.00 |
20,463,068.00 |
66.21% |
| Net Interest Income |
774,047.00 |
432,692.00 |
78.89% |
| Provision |
134,253.00 |
53,769.00 |
- |
| Write Back |
50,066.00 |
97,295.00 |
- |
| Operating Profit |
527,075.00 |
252,877.00 |
108.43% |
| Net Profit |
370,909.00 |
223,509.00 |
65.95% |
| Capital Adequacy Ratio |
13.35% |
12.92% |
- |
| NPL |
0.67% |
1.11% |
-39.64% |
| Base Rate |
8.49% |
7.28% |
- |
| Cost of Fund |
4.47% |
3.93% |
|
| CD Ratio (as per NRB) |
79.36% |
79.12% |
- |
| EPS (Annualized) |
18.54 |
15.57 |
19.06% |
| PE Ratio |
26.43 |
|
|
| Networth Per Share |
132.59 |
|
|
