Nepal Investment Bank to acquire Jebils Finance; swap will be finalized after DDA
Mon, Mar 11, 2019 7:48 AM on Stock Market,
Nepal Investment Bank Limited (NIB) and Jebils Finance Limited (JEFL) had signed a memorandum of understanding (MoU) on Falgun 26, 2075 for the acquisition of JEFL by NIB. NIB 507th BOD meeting held yesterday at 3:30 PM had approved this decision.
Following the MOU, the trading in the shares of Jebils Finance Limited (JEFL) has been suspended in the secondary market. The trading has been suspended due to the acquisition process.
As per the sources, 100 shares of Nepal Investment Bank will be equated with 20-30 shares of Jebils Finance Limited for the proceedings of the acquisition though the final swap ratios will be finalized after the completion of DDA of both the companies.
NIB currently has 78 branches, 9 revenue collection extension counters, 49 branchless banking units, 111 ATM outlets and 3,665 POS machines throughout the nation. Whereas, JEFL has only one branch in its network.
The major financial highlights of NIB and JEFL as follows:
|
As per Q2 2075/76 (In Rs '000) |
NIB |
JEBILS |
|---|---|---|
|
Size of Balance Sheet |
175,671,843 |
2,043,374 |
|
Paid Up Capital |
12,589,907 |
803,878 |
|
Reserve & Surplus |
12,075,064 |
76,811 |
|
Deposits |
142,067,853 |
1,076,451 |
|
Loans & Advances |
127,416,902 |
1,301,250 |
|
Net Interest Income |
3,352,455 |
35,394 |
|
Operating Profit |
2,867,393 |
9,140 |
|
Profit/(Loss) for the Year |
1,990,064 |
9,068 |
|
Capital Adequacy Ratio (CAR) |
11.90 |
53.13 |
|
NPL |
2.04 |
3.85 |
|
CCD (as per NRB Directives) |
76.43 |
69.99 |
|
Base Rate (%) |
8.96 |
13.23 |
|
Annualized EPS (In Rs.) |
33.99 |
2.34 |
|
Net Worth per Share (In Rs.) |
195.13 |
113.64 |
|
PE Ratio (as per Q2 Price) |
16.15 |
54.7 |
|
Price as on Falgun 26 (Rs) |
520 |
146 |
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