Nepal Investment Mega Bank's Q3 Net Profit Rises by 7.52% to Rs 1.08 Arba; EPS at Rs 12.80 with Negative Distributable Profit of Rs. 5.08 Arba
Fri, Apr 19, 2024 8:13 AM on Financial Analysis, Company Analysis, Latest,
Nepal Investment Mega Bank Limited (NIMB) has unveiled its third-quarter fiscal report for 2080/81, showcasing a notable 7.52% increase in net profit, reaching an impressive Rs 1.08 Arba.
The bank boasts a total paid-up capital of Rs. 34.12 Arba and reserves amounting to Rs. 29.84 Arba. However, a noteworthy aspect is the concerning negative retained earnings standing at Rs 5.08 Arba.
During this period, NIMB's total deposits soared to Rs 4.03 Kharba, accompanied by loans and advances to customers totaling Rs 3.12 Kharba. Particularly striking is the substantial 41.53% surge in Net Interest Income, soaring to Rs. 11.03 Arba. However, the bank faced significant expenditures, including personnel expenses of Rs. 2.69 Arba and impairment charges of Rs. 3.04 Arba.
In terms of financial metrics for the third quarter, the bank reported an annualized EPS of Rs 12.80, with net worth per share standing at Rs 172.57. Nonetheless, concerns arose as Non-Performing Loans (NPL) spiked to 4.66%. Moreover, the bank disclosed a negative distributable profit of Rs. 5.08 Arba.
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Nepal Investment Mega Bank Limited | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 34,128,595.00 | 34,128,595.00* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | -5,081,626.00 | -3,471,720.00* | - |
| Reserves | 29,847,120.00 | 24,943,762.00* | 19.66% |
| Deposits | 403,386,034.00 | 354,414,420.00* | 13.82% |
| Loans & Advances | 312,240,548.00 | 302,874,153.00* | 3.09% |
| Net Interest Income | 11,032,517.00 | 7,795,159.00 | 41.53% |
| Personnel Expenses | 2,691,023.00 | 1,818,427.00 | 47.99% |
| Impairment Charges | 3,049,775.00 | 701,907.00 | 334.50% |
| Operating Profit | 5,407,878.00 | 5,651,274.00 | -4.31% |
| Net Profit | 3,275,277.00 | 3,046,123.00 | 7.52% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | -5,081,626.00 | -1,279,656.00 | - |
| Capital Adequacy (%) | 13.27 | 13.99 | -5.15% |
| NPL (%) | 4.66 | 3.94 | 18.27% |
| Cost of Fund (%) | 6.57 | 8.13 | -19.19% |
| EPS (In Rs.) | 12.80 | 11.90 | 7.52% |
| Net Worth per Share (In Rs.) | 172.57 | 162.92 | 5.92% |
| Qtr end PE Ratio (times) | 12.21 | ||
| Qtr End Market Price | 156.2 | - | |
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