NIC Asia Bank Q3 earning surges by 32.14% to Rs 75.95 crore; 25% right share from Jestha 13; book closure on Baisakh 31
Sun, May 8, 2016 10:58 AM on Latest, Financial Analysis, Featured,
NIC Asia Bank Limited (NICA) has reported profit growth of 32.14 percent for the third quarter of the fiscal year 2072/73.
According to the unaudited financial report published by the commercial bank today, its net profit has increased to Rs 75.95 crore in third quarter up from Rs. 57.47 crore in the corresponding quarter of the previous fiscal year 2071/72.
The bank has a paid up capital of Rs 3.69 arba with reserve of Rs 2.56 arba in Q3.
NIC Asia Bank’s net interest income increased to Rs 1.37 arba in Q3 up from Rs 1.22 arba in the corresponding quarter. It’s paid up capital remains at Rs 3.69 arba.
The write back of provision for possible losses has increased to Rs 25.80 crore from Rs 13.49 crore as compared to the Q3 of last fiscal year.
The bank amassed huge amount of deposits in the Q3 of the ongoing fiscal year. Deposits collection reached Rs 64.14 arba in Q3 from Rs 49.23 arba in the corresponding period last year.
Likewise, it has extended loans and advances of Rs 52.49 arba in Q3 whereas in the same period last year the figure stood at Rs 41.76 arba.
Its non-performing loan has decreased to 1.11 percent in Q3 from 2.14 percent in the third quarter.
NICA’s earning per share (EPS) stand at Rs 27.41, net worth per share at Rs 169.37, and the P/E ratio at 28.53 times.
Meanwhile, NIC Asia Bank has called on its existing shareholders to start applying for 4:1 (25%) right share from Jestha 13, 2073.
According to the notice published by the bank today, the rights issue will remain open for 35 days before closing on Ashad 15, 2073.
Only shareholders who have bought the shares and transferred in their name before the book closure date on Baisakh 31, 2073 would be eligible to apply for the right shares.
NIC Asia Bank will be issuing a total of 92, 37,540 unit right share at the face value of Rs 100.
Civil Capital Markets limited has been assigned as the issue manager for the right issue.
Interested shareholders can collect the application forms from the any branch of NIC Asia Bank, as well as from Civil Capital Markets Limited located at Kamaladi, Kathmandu.
After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 4.61 arba from the existing Rs 3.69 crore. The bank has authorized capital of Rs 5 arba.
Its promoter- public ratio stands at 51% to 49%.
ICRA Nepal has assigned an “[ICRANP] IPO Grade 3”, indicating average fundamentals to the proposed rights issue.
Its last traded price stood at Rs 900 as on May 5, 2016.
NIC Asia Bank’s net interest income increased to Rs 1.37 arba in Q3 up from Rs 1.22 arba in the corresponding quarter. It’s paid up capital remains at Rs 3.69 arba.
The write back of provision for possible losses has increased to Rs 25.80 crore from Rs 13.49 crore as compared to the Q3 of last fiscal year.
The bank amassed huge amount of deposits in the Q3 of the ongoing fiscal year. Deposits collection reached Rs 64.14 arba in Q3 from Rs 49.23 arba in the corresponding period last year.
Likewise, it has extended loans and advances of Rs 52.49 arba in Q3 whereas in the same period last year the figure stood at Rs 41.76 arba.
Its non-performing loan has decreased to 1.11 percent in Q3 from 2.14 percent in the third quarter.
NICA’s earning per share (EPS) stand at Rs 27.41, net worth per share at Rs 169.37, and the P/E ratio at 28.53 times.
Meanwhile, NIC Asia Bank has called on its existing shareholders to start applying for 4:1 (25%) right share from Jestha 13, 2073.
According to the notice published by the bank today, the rights issue will remain open for 35 days before closing on Ashad 15, 2073.
Only shareholders who have bought the shares and transferred in their name before the book closure date on Baisakh 31, 2073 would be eligible to apply for the right shares.
NIC Asia Bank will be issuing a total of 92, 37,540 unit right share at the face value of Rs 100.
Civil Capital Markets limited has been assigned as the issue manager for the right issue.
Interested shareholders can collect the application forms from the any branch of NIC Asia Bank, as well as from Civil Capital Markets Limited located at Kamaladi, Kathmandu.
After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 4.61 arba from the existing Rs 3.69 crore. The bank has authorized capital of Rs 5 arba.
Its promoter- public ratio stands at 51% to 49%.
ICRA Nepal has assigned an “[ICRANP] IPO Grade 3”, indicating average fundamentals to the proposed rights issue.
Its last traded price stood at Rs 900 as on May 5, 2016.
