NIC Asia Bank Limtied Reports Satisfactory Growth In Major Profitability Indicators In Q2
Fri, Jan 21, 2022 9:45 AM on Latest, Company Analysis,
NIC Asia Bank Limited (NICA) has published its second-quarter report for the FY 2078/2079 with an increment in Net Profit by 16.57%. The bank's net profit has increased from Rs. 2.06 arba in the second quarter of FY 2077/2078 to Rs. 2.40 arba in the second quarter of FY 2078/2079.
In the same quarter, the bank has Rs 85.93 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers increased by 2.76% to Rs. 2.94 Kharba (compared to the immediate previous year ending) whereas loans and advances to customers increased by 5.29% to Rs. 2.61 Kharba (compared to the immediate previous year ending) till the second quarter. The bank's Net Interest Income (core business income) has increased by 32.81% to Rs. 5.24 Arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 11.56 Arba with Rs. 11.55 Arba in Reserve and surplus. The Non-performing loan (NPL) remained at 0.47%.
The annualized earnings per share (EPS) of the Bank stood at Rs. 41.54 and Net worth per share stood at Rs. 199.89. The company traded at a P/E multiple of 21.19 times.
Major Highlights:
|
Particulars |
NIC Asia Bank Limited |
||
|---|---|---|---|
|
Q2, 2078/2079 |
Q2, 2077/2078 |
Difference |
|
|
Share Capital |
11,564,005.37 |
11,564,005.37 |
0.00% |
|
Reserve & Surplus |
11,550,884.17 |
9,339,614.09 |
23.68% |
|
Loans and Advances |
261,923,033.78 |
248,770,354.08 |
5.29% |
|
Deposit from Customers |
294,940,872.91 |
287,024,798.91 |
2.76% |
|
Net Interest Income |
5,241,672.30 |
3,946,806.48 |
32.81% |
|
Impairment charge/(Reversal) for loans |
342,062.89 |
-71,927.90 |
- |
|
Operating Profit |
3,420,555.02 |
3,038,108.88 |
12.59% |
|
Net Profit |
2,402,066.31 |
2,060,537.51 |
16.57% |
|
Capital Adequacy Ratio (CAR) |
12.43% |
12.16% |
- |
|
Non-performing Loan (%) |
0.47% |
0.43% |
- |
|
Cost of Funds (%) |
7.06% |
5.22% |
- |
|
Base Rate (%) |
9.44% |
6.65% |
- |
|
CD Ratio (as per NRB Directives) |
86.68% |
76.01% |
- |
|
Annualized EPS (Rs.) |
41.54 |
35.64 |
- |
|
Net Worth per share (Rs.) |
199.89 |
180.76 |
- |
|
Price to Earnings (Times) |
21.19 |
- |
- |
|
Price to Book (Times) |
4.40 |
- |
- |
