Nepal Credit and Commerce Bank reported decline in Net profit n Q2; Look at the major highlights of this quarter
Thu, Jan 28, 2021 7:53 AM on Latest, Company Analysis,
Nepal Credit and Commerce Bank Limited (NCCB) has published its second-quarter report for the FY 2077/2078 with a decline in Net Profit by 18.82%. The bank's net profit has decreased from Rs. 75.63 crores in the second quarter of FY 2076/2077 to Rs. 61.40 crores in the second quarter of FY 2077/2078.
The bank reported Rs. 41.66 crores as distributable profit after P/L appropriation and regulatory requirements in this quarter.
The bank’s deposit from customers increased by 34.53% to Rs. 97.95 arba (compared to immediate previous year ending) whereas loans and advances to customers increased by 19.18% to Rs. 77.49 Arba (compared to the immediate previous year ending) till the second quarter. The Net Interest Income (core business income) of the bank has decreased by 13.28% to Rs. 1.44 arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 9.35 Arba with Rs. 4.52 Arba in Reserve and surplus. The Non-performing loan (NPL) remained at 2.42%.
The annualized earnings per share (EPS) of the Bank stood at Rs. 13.13 and Net worth per share stood at Rs. 148.38. The company traded at a P/B multiple of 2.24 times.
Major Highlights:
|
Particulars |
Nepal Credit and Commerce Bank Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Share Capital |
9,353,916.95 |
9,353,916.95 |
- |
|
Reserve & Surplus |
4,525,763.43 |
3,807,085.65 |
18.88% |
|
Loans and Advances |
77,494,765.29 |
65,021,931.37 |
19.18% |
|
Deposit from Customers |
97,956,989.27 |
72,815,826.90 |
34.53% |
|
Net Interest Income |
1,444,296.41 |
1,665,444.08 |
-13.28% |
|
Impairment charge/(Reversal) for loans |
143,485.63 |
63,334.93 |
- |
|
Operating Profit |
856,012.43 |
1,059,361.43 |
-19.20% |
|
Net Profit |
614,004.14 |
756,348.44 |
-18.82% |
|
Capital Adequacy Ratio (CAR) |
12.71% |
13.20% |
- |
|
Non-performing Loan (%) |
2.42% |
2.82% |
- |
|
Cost of Funds (%) |
5.79% |
7.50% |
- |
|
Base Rate (%) |
7.94% |
10.58% |
- |
|
CCD Ratio (as per NRB Directives) |
71.90% |
76.60% |
- |
|
Annualized EPS (Rs.) |
13.13 |
16.17 |
- |
|
Net Worth per share (Rs.) |
148.38 |
140.70 |
- |
|
Price to Earnings (Times) |
25.29 |
- |
- |
|
Price to Book (Times) |
2.24 |
- |
- |
