NCC & Prime Commercial Bank earns Rs 70.30 crore & Rs 1.12 arba respectively in Q4

Nepal Credit and Commerce Bank Limited (NCCB) has posted a net profit rise of 72.47 percent in the fourth quarter (Q4) of last fiscal year 2072/73. As per the unaudited quarterly report for the fourth quarter today, the commercial bank has registered a net profit of Rs. 70.30 crore in the fourth quarter of last fiscal year 2072/73, up from Rs. 40.76 crore in the corresponding quarter of fiscal year 2071/72. The profit is attributable to its core business as its net interest income surged from Rs. 1.18 arba in the previous year to Rs. 80.38 crore in previous year report. The write back of provision for possible losses has increased to Rs 23.17 crore from Rs 10.80 crore as compared to the Q4 of last fiscal year. The higher write back and net interest income has propelled increase in the net profit of NCC bank. NCC Bank has a paid up capital of Rs.  2.35 arba and has reserve of Rs. 1.28 arba at present. NCC Bank has collected Rs. 30.36 arba in deposits and has extended Rs 24.89 arba in loans in the fourth quarter of 2072/73 as compared to Rs. 26.66 arba in deposit and Rs.21.44 arba in loans in the corresponding quarter of fiscal year 2071/72. The bank’s non-performing loan decline to 0.90 percent in Q4 from 1.93 percent in corresponding quarter Its CD ratio stands at 79.48 percent. Its annualized earning per share (EPS) stand at Rs. 29.88, net worth per share is at Rs.154.57 and price earnings ratio (P/E) at 12.15 times. Nepal Credit and Commerce Bank Limited (NCCB), Infrastructure Development Bank Ltd (IDBL), International Development Bank Ltd (INDBL, Apex Development Bank Ltd (APEX) and Supreme Development Bank Ltd (SUPRME) are in the merger process. Likewise, Prime Commercial  Bank Limited (PCBL) has posted rise in net profit  by  51.32 % in the fourth quarter for the fiscal year 2072/73.The commercial bank has earned  net profit of Rs.1.12  arba  in Q4 increasing from Rs.74.55 crore in the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report for the fourth quarter today, the commercial bank has stated that its  net interest income has risen to Rs 1.58 arba in Q4 from Rs1.38 arba in previous quarter. It has collected deposits of Rs.48.35 arba in Q4 up from Rs.41 arba in the corresponding quarter of the previous fiscal year. Likewise, it has floated loans of Rs.40.28 arba , up from Rs.32.61 arba. Prime Bank has a paid up capital of Rs.3.70 arba and reserve and surplus stands at Rs.1.75 arba. It has an operating profit of Rs.1.50 arba. The commercial bank’s non- performing loan (NPL) dropped to 1.23 % in Q4 from 1.83 % in the previous quarter. Its EPS now stands at Rs 30.45, net worth per share at Rs. 147.39, and P/E ratio at  24.50 times.