NCC Bank’s profit jumps by 215%, Sana Kisan earns Rs.3.57 crore in Q1

Thu, Nov 13, 2014 12:00 AM on Financial Analysis,

-ShareSansar

ShareSansar, November 13:

Publishing the unaudited financial quarterly report today, Nepal Credit and Commerce Bank Limited (NCCB) stated that it has earned Rs 10.27 crore, up from Rs 3.25 crore in the corresponding period of the previous fiscal year 2070/71; which is an astounding growth of 215 percent.

Net interest income of the bank increased to Rs 18.30 crore, up from Rs 13.07 crore in the previous year; which again shows that bank had been able to increase its business this quarter.

The bank able to collect Rs 22.37 arba in deposits and extended a total of Rs 18.08 arba on loans and advances in this fiscal year compared Rs 22.63 arba deposits and Rs 16.84 arba loans in the previous fiscal year.

NCCB managed to write back Rs 3.79 crore from the amount earlier provisioned for the possible losses. However, it has provisioned Rs 3.20 crore for the possible losses during the given period.

There is a meager decrease in the Non-performing loan (NPL) of the bank. It comes down to 2.70 percent from 2.82 percent in the previous fiscal year.

NCC Bank annualized EPS is at Rs 20.98, while its P/E ratio stands at 20.21times and its net worth per share at Rs 187.69. The bank is yet to hold the AGM of both 2069/70 and 2070/71 FY.

Earlier, the bank has proposed 38% bonus shares from the return of last two year fiscal year to its shareholders.

Similarly, Sana Kisan Bikas Bank Limited (SKBBL) earns Rs 3.57 crore in the first quarter of the fiscal year 2071/72 as compared to Rs 2.29 crore of last fiscal year same period.

Net Interest Income of the micro finance increased by 31.15 percent to Rs 7.26 crore, up from Rs 5.30 crore in the corresponding quarter last year.

The bank has provisioned Rs. 41.93 lakhs for possible losses during the given period.

Bank’s Non-performing loan decreases drastically to 0.17 percent from 0.75 percent last year.

Sana Kisan’s annualized EPS is Rs 61.95, PE Ratio stands at 22.28 times and networth is Rs 408.40.

Earlier, SKBBL has proposed 15% cash dividend to its shareholders from the profit of last FY 2070/71.