Mega Bank's profit reaches near Rs 2 arba with excellent growth of 35.95% in Q3; NPL decline to 1.31%
Wed, Apr 28, 2021 5:12 AM on Financial Analysis, Latest,
Mega Bank Nepal Limited (MEGA) has published its third-quarter report for the FY 2077/78 with a rise in net profit by 35.95%.
The bank’s profit has increased from Rs 1.45 arba in the third quarter of the fiscal year 2076/77 to Rs 1.97 arba in the third quarter of the fiscal year 2077/78.
In the same quarter, the bank has Rs 1.29 arba as the distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 4.27% (compared to the immediate previous year ending) to Rs 1.33 kharba and loans and advances to customers increased by 20.37% (compared to the immediate previous year ending) to Rs 1.33 kharba. The CCD ratio of the banks reaches 83.54%.
The net interest income (core business income) of the bank has increased by 28.42% to Rs 4.08 arba.
The bank’s paid-up capital stands at Rs 14.65 Arba with Rs 5.25 Arba as its reserve and surplus. The Non-performing loan has declined to 1.31% from 1.32%.
In the third quarter, the annualized EPS of the bank stands at Rs 17.95. The net worth per share stands at Rs 135.86 and the qtr end PE ratio stands at 17.88 times.
Major Highlights:
* Figure is of Immediate Previous Year Ending
| Particulars (In Rs '000") | Mega Bank | ||
|---|---|---|---|
| Q3 2077/78 | Q3 2076/77 | Difference | |
| Share Capital* | 14,654,965 | 13,138,621 | 11.54% |
| Share Premium* | 306,371 | 235,747 | |
| Retained Earnings* | 1,972,983 | 1,710,943 | 15.32% |
| Reserves* | 2,975,435 | 2,926,265 | 1.68% |
| Deposits from Customers* | 133,352,291 | 127,894,615 | 4.27% |
| Loans & Advances to customers* | 133,003,519 | 110,493,341 | 20.37% |
| Net Interest Income | 4,088,218 | 3,183,389 | 28.42% |
| Other Operating Income | 338,124 | 109,218 | 209.59% |
| Impairment Charge/(Reversal) | 278,514 | 261,839 | 6.37% |
| Personnel Expenses | 1,295,881 | 969,169 | 33.71% |
| Operating Profit | 2,770,203 | 2,077,577 | 33.34% |
| Profit/(Loss) for the Year | 1,972,756 | 1,451,090 | 35.95% |
| Total Comprehensive Income | 2,030,488 | 1,457,614 | 39.30% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 1,297,731 | ||
| Capital Adequacy Ratio (CAR) | 12.22 | 12.56 | -2.71% |
| NPL | 1.31 | 1.32 | -0.76% |
| CCD (as per NRB Directives) | 83.54 | 77.48 | 7.82% |
| Cost of Fund (%) | 5.55 | 7.18 | -22.70% |
| Interest Rate Spread (%) | 3.62 | 5.22 | -30.65% |
| Base Rate (%) | 7.59 | 9.94 | -23.64% |
| Annualized EPS (In Rs.) | 17.95 | 14.73 | 21.88% |
| Net Worth per Share (In Rs.) | 135.86 | 137.09 | -0.90% |
| Qtr End PE Ratio (times) | 17.88 | - | - |
| Qtr End Market Price | 321 | - | - |
