NCC Bank earns Rs 1.16 arba till Q3; banks yet to conduct AGM of last 2 FY years

Nepal Credit and Commerce Bank Limited (NCCB) has reported a 31.08% rise in net profit in the third quarter of FY 2075/76.

The bank’s profit has increased from Rs 88.80 crore in the third quarter of the fiscal year 2074/75 to Rs 1.16 arba in the third quarter of the fiscal year 2075/76.

The bank’s deposit rises by 7.33% to Rs 61.45 arba whereas loans and advances have also increased by 10.41% to Rs 56.80 arba till the third quarter. The net interest income (core business income) of the bank has also increased by an outstanding 54.76% to Rs 2.23 arba from Rs 1.44 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 7.01 arba with Rs 5.24 arba as its reserve. The Non-Performing Loan (NPL) stands at 3.26%. NCC Bank is still require to raise paid up capital by 14.28% to meet NRB minimum requirements of Rs 8 arba.

In the same quarter, the bank has Rs 83.99 crore as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders. If the profit growth of this quarter continues in fourth quarter then the company will have Rs 1.12 arba (approx.) as distributable profit. The bank’s yet to conduct AGM for last two fiscal years.

In the third quarter, the annualized EPS of the bank stands at Rs 22.11. The net worth per share stands at Rs 174.66 and qtr end PE ratio stands at 10.22 times.

Major Highlights:

 * Figure are of Immediate Previous Year Ending (Audited)

 * Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q3 end paid up capital.